The U.S implements the semiconductor chip subsidy law

The U.S implements the semiconductor chip production subsidy law

Earlier this month, President Biden signed into law the Science and CHIPS Act, which includes more than $50 billion in subsidies for semiconductor manufacturing, which is used in everything from high-tech cars and weapons to tech devices and video games.

In addition, the legislation would “pour” $200 billion over 10 years to boost U.S. scientific research to better compete with China.

President Biden said the legislation would help the U.S. win economic competition in the 21st century.

President Biden’s executive order sets out six key priorities to guide implementation and establishes a 16-member interdisciplinary Science and CHIPS Act implementation panel.