CHIPS Act
About CHIPS Act
The CHIPS and Science Act of 2022 allocated 52 billion to subsidize semiconductor manufacturing in the United States. The act aimed to reduce reliance on Taiwan for advanced chips. Companies including Intel, TSMC, and Samsung announced plans for US factories. The act restricted technology exports to China, accelerating the decoupling of the two economies. The CHIPS Act represented a major shift from free trade to industrial policy. NVIDIA, AMD, and other chip designers benefited from the focus on domestic production. The act was a response to supply chain vulnerabilities exposed by COVID 19 and rising US China tensions.
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