Home » World News » United States looks to ensure China doesn't benefit from $52B CHIPS Act
United States looks to ensure China doesn't benefit from $52B CHIPS Act
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The Commerce Department announced a proposed regulation that would prevent adversarial countries like China from using technology developed out of the $52 billion CHIPS and Science Act against the U.S. or its allies.
Congress enacted the bipartisan CHIPS Act last year, which includes a requirement that the Commerce Department develop regulations to prevent companies that receive some of the billions of dollars in incentives for developing and manufacturing semiconductors in the U.S. from doing business with foreign countries of concern. Specifically, the bill names the People’s Republic of China, Russia, Iran and North Korea as countries where funding recipients can’t expand semiconductor manufacturing for 10 years.
"The innovation and technology funded in the CHIPS Act is how we plan to expand the technological and national security advantages of America and our allies; these guardrails will help ensure we stay ahead of adversaries for decades to come," Commerce Secretary Gina Raimondo said in a press release Tuesday.
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