washington massive government investment china semiconductor industry risk distort global market integrate circuit lead damage overcapacity stifle innovation u.s. commerce secretary penny pritzker warn comment come time grow trade tension asian giant unite state accusations dump industrial overcapacity sour business climate foreign firm business china republican presidential candidate donald trump threaten levy punitive tariff 45 percent import chinese goods elect speech wednesday pritzker sharply criticize 150-billion plan chinese government expand share chinese-made integrate circuit domestic market 70 percent 2025 percent let state obvious unprecedented state-driven interference would distort market undermine innovation ecosystem pritzker say center strategic study think-tank washington level investment would equivalent half worldwide semiconductor sales last year result market distortions similar plague steel aluminum green technology industries pritzker add world see effect type target government-led interference say result overcapacity global marketplace artificially reduce price cost job unite state around world cause significant damage industries globally pritzker say imperative take step prevent similar situation develop semiconductor industry add step include commerce department study global semiconductor supply chain underway besides engage china governments persuade avoid policies distort market spur technology transfer u.s. government make clear china leaders every opportunity accept 150-billion industrial policy design appropriate industry pritzker add chinese foreign ministry spokeswoman hua chunying say china advocate countries provide fair transparent investment environment hope everyone rationally view relevant trade investment cooperation work together create positive atmosphere tell reporters regular brief ask pritzker remark china ministry commerce respond immediately request comment early thursday 12 u.s. senators urge zhongweng international 2.3-billion purchase cleveland ohio-based aleris corp. reject national security review panel addition see new attempt china acquire company technology base government interest commercial objectives witness attempt restrict access china domestic market pritzker say technology industry depend global supply chain open fair trade innovation say warn government behavior disrupt system distort market china effort move value chain result healthy competition free fair trade state-directed investments aim distort global market pritzker say addition government require technology transfer joint-venture localization quid pro quo market access u.s. commerce chief warn china semiconductor investment binge