US bars ‘advanced tech’ firms from building China factories for 10 years
The US has barred chip companies that get federal funding from building advanced facilities in China. …
“We’re going to be implementing the guardrails to ensure those who receive CHIPS funds cannot compromise national security… they’re not allowed to use this money to invest in China, they can’t develop leading-edge technologies in China…. for a period of ten years,” according to US Commerce Secretary Gina Raimondo., explaining the US Chips and Science Act.
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