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With all eyes on Taiwan and growing concerns over semiconductor supply, the US chip law is particularly timely. But this is not unique: other countries are similarly aspiring to reduce their reliance on imported chips. Let’s explore. — Anna
From cheap as chips to billion dollar incentives
US President Joe Biden signed into law the CHIPS and Science Act of 2022 earlier this week after the bill received broad bipartisan support in the House and Senate.
The H and I in CHIPS stand for “Helpful Incentives,” alluding to the main component of the initiative: $52.7 billion in government grants.
Biden describe the new bill on Twitter as “a once-in-a-generation law that invests in America by strengthening our efforts to make semiconductors here at home.”