Biden Administration’s Semiconductor Boost: The Biden Administration is set to provide substantial funding, reaching billions of dollars, to semiconductor companies like Intel and TSMC, aiming to encourage in-house production in the United States.
CHIPS Act and Its Incentives: The initiative falls under the CHIPS Act, offering $280 billion in grants, federal investments, and tax breaks to semiconductor firms. The goal is to reduce dependency on foreign nations, particularly Taiwan and China.
Concerns and Reservations: Intel expresses reservations about the distribution of funding under the CHIPS Act, claiming a need for a larger share due to their commitment. Challenges faced by semiconductor firms, including workforce issues, are acknowledged.
US-EU Trade and Technology Council Meeting: A recent meeting emphasized fortifying economic security, diversifying economies, and collaboration on critical technologies. Stakeholder events focused on the legacy semiconductor supply chain and sustainable trade.
Future Plans and Collaboration: The U.S. and EU plan to convene the sixth TTC ministerial meeting in 2024, highlighting their commitment to reviewing progress, identifying new collaboration areas, and deepening the transatlantic partnership on shared priorities.
The Biden Administration is gearing up for a historic move, injecting billions of dollars into semiconductor companies like Intel and TSMC, with the aim of bolstering in-house production within the United States. This initiative is part of the CHIPS Act, offering a substantial package of $280 billion in grants, federal investments, and tax breaks to semiconductor firms. The overarching goal is to diminish reliance on foreign nations, especially Taiwan and China.
However, the distribution of funding has sparked concerns and reservations, notably from Intel, which argues for a larger share based on their perceived commitment. Semiconductor firms are grappling with challenges, including workforce issues, despite the significant economic support provided by the CHIPS Act.
In parallel, a recent U.S.-EU Trade and Technology Council meeting highlighted the joint effort to fortify economic security, diversify economies, and collaborate on critical technologies. Stakeholder events focused on addressing issues in the legacy semiconductor supply chain and advancing sustainable trade.
Looking ahead, the U.S. and EU plan to convene the sixth TTC ministerial meeting in 2024, underscoring their commitment to reviewing progress, identifying new collaboration areas, and deepening the transatlantic partnership on shared priorities. This multifaceted approach signals a pivotal moment in shaping the future of semiconductor manufacturing and global technological collaboration.
