US Department of Commerce Finalized Rules To Prevent China’s Benefit from $52 Billion Chip Fund

News Snapshot:

The U.S. recently finalised a set of rules aimed at preventing China from benefiting from a $52 billion chip fund. This fund is set aside for the growth of the U.S. tech industry. The move also aims to protect national security and protect the technological edge of the United States. This decision shows the growing concerns about China’s tech ambitions. The U.S. Department of Commerce (DoC) said that it is a big risk to give China access to advanced semiconductor technology. For this and other reasons, the DoC issued final rules on Friday. The new rules aim to bar China...