U.S. Plans $100 Billion Boost for Domestic Chips, Citing Security

Apr 22, 2024, 08:00 AM

The United States' dependency on semiconductor imports, particularly from Taiwan, has been highlighted as a critical issue, with suggestions to enhance domestic production through legislative measures like the CHIPS Act and regulatory changes. Commerce Secretary Gina Raimondo has expressed concerns over this dependency, emphasizing the role of semiconductors in national security and the economy. The U.S. has implemented export controls to prevent the sale of products containing American semiconductors to countries like Russia and China, citing national security risks. Raimondo's recent statements on a '60 Minutes' interview underline the ongoing efforts to block these nations from accessing advanced U.S.-designed microchips. Additionally, Raimondo announced new $100 billion initiatives to boost domestic chip manufacturing and extend high-speed internet throughout the country as part of a broader strategy to maintain technological and economic leadership.