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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsChip makers are refusing to build new semiconductor plants in the U.S. unless Congress unlocks $52 b
Fortune via Yahoo NewsThe worlds third-largest maker of semiconductor wafers, Taiwans GlobalWafers, announced plans to build a $5 billion factory in the U.S. on Mondaybut only if the government helps pay for it.
This investment that theyre making is contingent upon Congress passing the CHIPS Act. The [GlobalWafers] CEO told me that herself, and they reiterated that today, U.S. Commerce Secretary Gina Raimondo told CNBC, the same day GlobalWafers announced its development plan.
Congress actually passed the CHIPS Act, which proposed $52 billion in funding for local players to invest in the domestic chip industry, in January 2021 as part of that years National Defense Authorization Actan annual bill designed to provide guidance on policies and funding for the year. But, over a year later, Congress has yet to formally allocate any budget to finance the bill.
It has to be done before [Congress goes] to August recess. I dont know how to say it any more plainly. [The GlobalWafers] deal will go away, I think, if Congress doesnt act, Raimondo told CNBC.
The CHIPS Act is intended to shore up Americas flagging chip industry as a hedge against Chinas accelerated development of its own semiconductor capabilities and shift global production away from Chinas shores. The majority of global semiconductor manufacturing is consolidated in Taiwan, an independent island that Beijing claims sovereignty over.
This investment that theyre making is contingent upon Congress passing the CHIPS Act. The [GlobalWafers] CEO told me that herself, and they reiterated that today, U.S. Commerce Secretary Gina Raimondo told CNBC, the same day GlobalWafers announced its development plan.
Congress actually passed the CHIPS Act, which proposed $52 billion in funding for local players to invest in the domestic chip industry, in January 2021 as part of that years National Defense Authorization Actan annual bill designed to provide guidance on policies and funding for the year. But, over a year later, Congress has yet to formally allocate any budget to finance the bill.
It has to be done before [Congress goes] to August recess. I dont know how to say it any more plainly. [The GlobalWafers] deal will go away, I think, if Congress doesnt act, Raimondo told CNBC.
The CHIPS Act is intended to shore up Americas flagging chip industry as a hedge against Chinas accelerated development of its own semiconductor capabilities and shift global production away from Chinas shores. The majority of global semiconductor manufacturing is consolidated in Taiwan, an independent island that Beijing claims sovereignty over.
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Chip makers are refusing to build new semiconductor plants in the U.S. unless Congress unlocks $52 b (Original Post)
In It to Win It
Jun 2022
OP
Pas-de-Calais
(9,904 posts)1. There's gotta be more than that,,,right?
Im missing something
msongs
(67,405 posts)2. dear Taiwan, do you think the US should help defend you from China or not nt
Just A Box Of Rain
(5,104 posts)3. Dear US, is it more likely you'd come to our aid
if we were your only supplier of chips vs having your own domestic chip production that would not be interrupted by a Chinese invasion of Taiwan?