Tuesday, August 9, 2022

Chips for America: US Senate approves US semiconductor manufacturing bill

A law to boost semiconductor manufacturing in the United States, the “Chips for America Act,” cleared a significant hurdle in the US Senate on Tuesday. By a vote of 64 to 32, lawmakers voted to bring the bill to the final Senate vote. The so-called CHIPS law provides subsidies of US$52 billion, about 51.4 billion euros, to US manufacturers and other funds for research in this area. Its aim is to strengthen the competition compared to China and other countries. After the Senate, it still requires approval from the House of Representatives. According to her spokeswoman Nancy Pelosi, it is considered safe.

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US President Joe Biden called the law one of his top priorities. “America invented the semiconductor. It’s time to bring manufacturing — and the jobs that go with it — home,” Biden wrote on Twitter on Tuesday, China is closely monitoring the law in the US as the country tries to overtake the US. US Commerce Secretary Gina Raimondo said in an online meeting with company leaders on Monday: “The reality is that we haven’t invested anything to boost domestic chip production, while China is investing $150 billion in building its own capacity.” Investing more than

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Semiconductors are considered the pacesetters of the modern technology world and can be found almost everywhere today, for example in smartphones, computers, cars or medical devices. Semiconductors shortages have led to price rise and supply chain problems in many industries during the Corona pandemic.

The law is also about reducing dependence on chip production in Asia. Large manufacturing capabilities are located especially in Taiwan. US politicians are concerned about the security of supplies given the tension with China.


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