CHIPS fund receivers are also not allowed to engage with any other countries of similar concern. To be precise, the “significant transaction” refers to being involved in any leading-edge semiconductor manufacturing capacity or material expansions of legacy semiconductor manufacturing capacity designed to export to the US and other countries. As studied by Tech Wire Asia, according to the published statement by the US Commerce Department, companies that receive CHIPS incentive (funds from the Chips Act), are prohibited for 10 years, “from engaging in significant transactions in China.” No doubt, t he passing of the broad law would mean more domestic production, however, it also ties down the hand of chipmakers to a certain extent. The United States (US) were no different, especially with its landmark Chips Act - the long awaited legislation meant to boost the country’s position in the chip manufacturing race globally. The global chip shortage has, if anything, led to countries around the world being involved in a race to subsidize semiconductor manufacturing - to avoid being left behind by rivals. Chipmakers can’t especially be involved in any leading-edge semiconductor manufacturing capacity for a period of ten years.Chipmakers that receive the subsidy will be prohibited from engaging in “significant transactions in China or other countries of concern.”.The Commerce Department said subsidies awarded under the Chips Act will be no larger than is necessary to ensure a project happens solely within the US.
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