Europe Approves Its $47 Billion Answer To Biden’s CHIPS Act

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KEY POINTS

• The European Chips Act seeks to help the bloc secure its semiconductor supplies, ensure self-sufficiency and compete with the U.S. and Asia on tech.
• Semiconductors are a thorny issue for world governments after a global shortage led to supply problems for major automakers and electronics manufacturers.
• Europe has been seeking to control more of its supply chain to reduce its reliance on foreign companies.

Europe approves its $47 billion answer to Biden's CHIPS Act — here's everything that's in it

The European CHIPS Act seeks to help the bloc secure its semiconductor supplies, ensure self-sufficiency and compete with the U.S. and Asia on tech.

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