News Snapshot:
Companies that accept U.S. funding as part of a plan to boost U.S. computer chip manufacturing capacity will be banned from establishing advanced manufacturing facilities in China for 10 years, the administration announced this week. President Joe Biden. The Commerce Department rolled out its $50 billion CHIPS distribution plan, which Biden signed into law last month. During an appearance at the White House on Tuesday, Commerce Secretary Gina Raimondo said the rules include specific language on transferring technology to China. “Companies that receive CHIP funds cannot build state-of-the-art or advanced technology facilities in China for a period of 10 years,”...
