Biden launches new US trade probe into legacy Chinese chips

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Biden launches new US trade probe into legacy Chinese chips - Channel News Asia

Quick Summary:

WASHINGTON: The Biden administration on Monday (Dec 23) announced a last-minute trade investigation into Chinese-made "legacy" semiconductors that could heap more US tariffs on chips from China that power everyday goods from autos to washing machines to telecoms gear.

After the COVID-19 pandemic disrupted the supply of semiconductors and temporarily halted production of autos and medical equipment, the US has sought to build its own semiconductor supply chain with US$52.7 billion in new subsidies for chip production, research and workforce development.

The effort could offer Trump a ready avenue to begin imposing some of the hefty, 60 per cent tariffs that he has threatened on Chinese imports.