US president Joe Biden has signed a bill to supercharge the US semiconductor industry. The $280bn CHIPS and Science Act, signed on 9 August, aims to stimulate research and innovation in the field as well as encouraging US companies to invest in onshore production of chips. According to the US-based Semiconductor Industry Association, the global percentage of chips provided by US facilities fell from 37% in 1990 to 12% today as manufacturing moved to countries such as Taiwan and South Korea. In recent years China's government has invested heavily in its own chip manufacturers.
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