President Joe Biden’s blueprint for the U.S. semiconductor industry marks an ambitious effort to set industrial policy for a critical sector of the economy, but the strategy will need more money and global support to take back chip supremacy and preempt a rival effort from China.
Biden Will Need More Than $52 Billion for Chip Effort
Bloomberg 1 hr ago Bloomberg News
(Bloomberg) President Joe Biden’s blueprint for the U.S. semiconductor industry marks an ambitious effort to set industrial policy for a critical sector of the economy, but the strategy will need more money and global support to take back chip supremacy and preempt a rival effort from China.
The White House on Tuesday outlined a sweeping plan to secure the conduits for critical products from medicines to chips, responding in part to the growing economic and political sway of its Asian rival. Semiconductors the basic yet incredibly sophisticated components in most every modern device took centerstage in a 250-page White House report, which highlighted Beijing’s “ultimate goal of cyber sovereignty and establishing first-mover advantage.”