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U.S. investments in foreign chip firms a potential concern, White House says – Reuters.com

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Employees work at a production line manufacturing chips inside a factory of an electronics company in Chizhou, Anhui province, China March 21, 2018. Picture taken March 21, 2018. REUTERS/Stringer

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WASHINGTON, Sept 14 (Reuters) – U.S. investment in foreign chip companies is a potential concern for the Biden administration, a White House official said on Wednesday, but he stressed it has not yet made a final decision on a potential mechanism regulating U.S. investments in China.

National Security Council official Peter Harrell heralded the administration’s efforts to kick-start U.S. chipmaking with $52 billion in subsidies through a recent law and its export control policies, which have sought to curb shipments of specialized chips and chipmaking tools to China.

But, speaking at an event marking the release of a report on outbound investment measures, he argued, “It’s important to consider whether and how certain narrowly targeted categories of U.S. investment in foreign competitor semiconductor firms might undermine the effectiveness of these other policy tools.”

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Source: https://www.reuters.com/world/us-investments-foreign-chips-firms-potential-concern-white-house-says-2022-09-14/

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