IBM Vice Chair Gary Cohn, who also served as a top economic adviser in former President Donald Trump's first term, spoke with a national broadcaster on Sept. 20, 2026, offering a candid assessment of artificial intelligence policy, semiconductor export controls, and the state of American economic competitiveness. His remarks, made during a Sunday morning public affairs program, come at a time when Washington is wrestling with how to regulate emerging technology while maintaining global leadership.
Cohn's Policy Experience and Current Role
Gary Cohn is no stranger to high-stakes economic policy. As former director of the National Economic Council under President Trump, he helped shape tax reform and trade policy in 2017 and 2018. Today, as vice chair of IBM, he advises one of the world's largest technology companies on strategic direction, public policy, and global market expansion. His dual perspective as a former government official and current corporate leader gives him a unique vantage point.
In the interview, Cohn emphasized that his views are shaped by both his White House experience and his daily involvement in IBM's operations, which span more than 170 countries. He noted that the intersection of technology and economics is now more critical than ever, as nations race to dominate in artificial intelligence, quantum computing, and advanced semiconductors. His comments arrive as Congress debates new AI legislation and the Commerce Department reviews export restrictions.
AI Regulation: Balancing Innovation and Safety
Cohn argued that AI regulation must be carefully calibrated to avoid stifling innovation while still addressing legitimate safety concerns. He pointed to IBM's own principles on trustworthy AI, which emphasize transparency, fairness, and accountability. However, he warned that overly prescriptive rules could push AI development overseas, where regulatory environments may be less rigorous. "We need a framework that protects consumers without handicapping our own researchers," he said.
He also highlighted the importance of federal investment in AI research and workforce training. Cohn noted that the United States currently leads in AI innovation, but that lead is not guaranteed. He called for a national strategy that includes public-private partnerships, STEM education initiatives, and streamlined pathways for skilled immigration. Without such measures, he cautioned, the country risks losing its competitive edge to China and other rivals.
Chip Export Controls and Global Competition
Turning to semiconductor export controls, Cohn acknowledged the need to protect national security but argued that the current approach may be too broad. He suggested that restrictions on advanced chips and manufacturing equipment should be targeted to prevent misuse while allowing commercial trade to continue. "We can't treat every chip like a weapon," he said. "We have to be surgical in our approach."
The former economic adviser also discussed the global race to build semiconductor fabs, noting that billions in government subsidies are flowing to both the United States and other nations. He urged policymakers to focus on long-term supply chain resilience rather than short-term political wins. Cohn expressed concern that export controls could inadvertently accelerate China's push for self-sufficiency, ultimately making the United States less competitive in the long run.
Economic Outlook and Market Signals
Cohn also offered his perspective on the broader economy, touching on inflation, interest rates, and labor markets. He said that while the Federal Reserve's tightening cycle has brought inflation down from its peak, the job is not yet complete. He cautioned against premature rate cuts, which could reignite price pressures. At the same time, he acknowledged that the labor market is showing signs of cooling, with some sectors experiencing slower hiring.
He emphasized that technology investment is a key driver of productivity growth, which could help the economy expand without fueling inflation. Cohn pointed to IBM's own investments in AI and hybrid cloud as examples of how companies are positioning for the future. He also stressed the importance of fiscal discipline in Washington, warning that rising debt levels could crowd out private investment and undermine long-term growth prospects.
Industry Reactions and Political Implications
Cohn's remarks have already drawn reactions from industry analysts and policy experts. Some agree with his call for a more nuanced approach to export controls, while others argue that national security concerns should take precedence. The debate is likely to intensify as Congress considers new legislation on AI and chips. Cohn's position as a prominent Republican and business leader gives his words weight in both parties, though critics say his corporate ties color his judgment.
The interview also comes at a politically sensitive time, with midterm elections approaching and both parties jockeying for position on technology policy. Cohn did not endorse any candidate or party, but his emphasis on innovation and competitiveness aligns with themes often heard from business-friendly Republicans. However, his support for skilled immigration and federal investment in research may resonate with Democrats as well, making him a potentially influential voice in the coming debate.
Future Outlook and Next Steps
Looking ahead, Cohn said he expects the AI and chip policy debates to remain a top priority for the next administration and Congress. He called for a comprehensive national technology strategy that aligns with economic goals and national security needs. He also urged industry leaders to engage more actively with policymakers, providing data and real-world examples to inform decisions. "We can't afford to get this wrong," he said.
IBM, for its part, continues to advocate for a measured approach to regulation, publishing white papers and meeting with lawmakers on both sides of the aisle. Cohn's public comments are part of a broader effort to shape the conversation. As the 2026 election cycle heats up, his voice is likely to be sought after by candidates seeking credibility on technology and economic issues. Whether his recommendations become policy remains to be seen.
The full interview, which aired on Sept. 20, 2026, is available on the broadcaster's website and social media channels. Cohn's appearance underscores the growing importance of technology in national economic policy and the need for informed, experienced voices in the public discourse. As the United States charts its course in the AI era, his insights will likely resonate in boardrooms and government offices alike.
