Biden to Decide on Foreign Chipmaker Grants, Raimondo Says
- U.S. wants to ease reliance on Taiwan, which faces Beijing ire
- U.S., EU coordinating approach on funding incentives for chips
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President Joe Biden will ultimately decide whether foreign chip producers will receive some of the $52 billion in funding planned to help ease the shortage that has hammered manufacturing, Commerce Secretary Gina Raimondo said.
Biden will make the determination on whether to direct funds to only U.S.-headquartered companies after the administration’s internal policy discussions are completed, Raimondo said in an interview Wednesday with Bloomberg editors and reporters in Washington.