White House Moves To Stop Semiconductor Funds From Helping China
View Source | March 22, 2023 6:16 pm
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- “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,” Commerce Secretary Gina Raimondo said in a statement.
- “CHIPS for America is fundamentally a national security initiative and these guardrails will help ensure malign actors do not have access to the cutting-edge technology that can be used against America and our allies.”
- Recipients of the funds will be unable to use them overseas, expand existing semiconductor operations abroad by more than 10% for one decade after the award, or launch research initiatives with foreign entities of concern.
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