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Creating Helpful Incentives to Produce Semiconductors (CHIPS) Act
The United States Congress has passed and approved the CHIPS, which is focused on revitalizing the domestic manufacturing of microprocessors. The industrial strategy and policy aim to strengthen American supply chain and create jobs.
The main objective of the CHIPS Act is to promote the manufacturing and fabrication of semiconductors in the United States, the new law would provide $52 billion dollar in incentives for manufacturing, research, and tax credits.
Following the passage of the CHIPS Act, several big semiconductor producers have announced nearly $50 billion dollars in further investment that will support the United States semiconductor manufacturing. Some of the industries that will see the benefits of this policy include electronics, automobiles, and defense systems. It also lays the foundation for future technologies such as clean energy, quantum computing, artificial intelligence, and nanotechnology.
While production and manufacturing are set to be moved to the United States, it is also clear there is a critical need for foundries and raw material that will continue to be imported from foreign countries. If you have any questions regarding navigation of new imports, avoid supply chain disruptions or any other trade related topic please contact Allyn International at email@example.com.
Contributor: Josue Delgado
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