What does the CHIPS Act mean for U.S.-China semiconductor competition?

In August, the Biden administration finally passed a semiconductor subsidy bill. The CHIPS and Science Act of 2022 achieved rare bipartisan support and promises funding of more than $200 billion over the next five years with the goal of re-establishing the U.S. as a global center of semiconductor manufacturing. To understand the bill and its impact, this week on China Corner Office, Chris Marquis discusses the CHIPS Act with Rory Murphy, Vice President of Government Affairs at the U.S.-China Business Council; and Paul Triolo, Senior VP for China and Technology Policy Lead for Albright Stonebridge Group. Highlights of the show include a general overview and the history of the CHIPS Act, the political significance to U.S.-China relations, and challenges in industrial policy and export controls. Also discussed is how Taiwan has been and will be in the spotlight of the global supply chain with U.S. and China competing in the semiconductor industry. They concluded with an emphasis on the need for U.S. and Chinese companies to adapt to the new rules and regulations.

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