Robert Besser
24 Mar 2023, 14:37 GMT+10
WASHINGTON D.C.: The US Commerce Department has proposed new laws aimed at preventing China and other countries deemed of concern from using US semiconductor manufacturing and research funding worth $52 billion.
Also, recipients of US funding will be prohibited from investing in the expansion of semiconductor manufacturing in foreign countries considered unfriendly, such as China and Russia, while recipients of incentive funds will be restricted from engaging in joint research or technology licensing work with these countries.
As they are critical to national security, some semiconductors will also be defined as not being legacy chips and therefore will be subject to tighter restrictions.
This measure covers chips "including current-generation and mature-node chips used for quantum computing in radiation-intensive environments, and for other specialized military capabilities."
"These guardrails will help ensure we stay ahead of adversaries for decades to come," said Commerce Secretary Gina Raimondo.
In late June, the department will begin accepting applications for a $39-billion semiconductor manufacturing subsidy program.
The law will also create a 25 percent investment tax credit for construction of chip plants, worth some $24 billion.
To slow Beijing's technological and military advances, in October the Commerce Department issued new export controls to prevent China from having access to certain semiconductor chips made anywhere in the world with US equipment.
The new rules are a follow up to letters sent in 2022 to leading toolmakers KLA, Lam Research and Applied Materials, which required them to stop shipments of equipment to wholly Chinese-owned factories that produce advanced logic chips.
Get a daily dose of Mexico Star news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Mexico Star.
More InformationDUBLIN, Ireland: The Government of Ireland is preparing legislation to outlaw vaping, and the sale of vaping products, to those ...
Cape Town [South Africa], June 1 (ANI): External Affairs Minister (EAM) S Jaishankar on Thursday said that the BRICS nations ...
Guwahati (Assam) [India], June 1 (ANI):To mark the completion of 9 years of the Modi government and to make preparations ...
By Dr Amjad Ayub MirzaSrinagar (Jammu and Kashmir) [India], June 1 (ANI): The three-day session of the G-20 Tourism Working ...
NewsVoirNew Delhi [India], June 1: C-Quest Capital (CQC), a world-leading carbon finance business dedicated to catalysing an energy transition across ...
BusinessWire IndiaBengaluru (Karnataka) [India], June 1: The Indian real estate industry's stars gathered at the illustrious 5th edition of the ...
WASHINGTON D.C.: The Defense POW/MIA Accounting Agency has announced that 2nd Lt. James Litherland of South Williamsport, Pennsylvania, an Army ...
DHAKA, Bangladesh - The Anti-Corruption Commission (ACC) has filed a case against 13 members of Grameen Telecom's board of directors, ...
WASHINGTON D.C.: The U.S. Commerce Department has said that trade ministers from 14 countries have taken part in the US-led ...
LOUISVILLE, Kentucky: Two horses that succumbed to their injuries at Churchill Downs have become the 11th and 12th fatalities over ...
FREMONT, California: Brain implant company Neuralink announced that it has received approval from US regulators to begin human brain implant ...
JEFFERSONVILLE, Indiana: Randy Lankford, owner of Lankford Funeral Home and Family Center in Jeffersonville, Indiana, has pleaded guilty to more ...