U.S. Govt Outlines Requirements for CHIPS Act Subsidies

Posted on

The U.S. government is set to provide American chipmakers $52 billion in funding in a bid to strengthen the local semiconductor industry and lay the groundwork for its revival in America. But to get billions of dollars from the government, companies will have to agree to a variety of terms, which include not expanding their manufacturing in China, sharing profits, and providing affordable childcare. 

U.S. chipmakers that receive funds from the CHIPS fund must agree not to expand their production capacity in China for 10 years after they get the money, reports the Financial Times. This is not the only measure designed to limit American chipmakers that receive money, indicating that the U.S. government reserves the right to expand its stipulation list beyond China. 

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *