Biden Issues China Restrictions on Companies Getting Chip Funds
- It limits expansion in China by companies getting US support
- Also removes a hurdle to aid valued at more than $100 billion
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The Biden administration announced final restrictions Friday on expansion in China by semiconductor companies that will receive federal funds to build plants in the US.
It’s the last regulatory hurdle before the Commerce Department hands out more than $100 billion worth of federal aid intended to boost domestic chipmaking while containing China’s technological advancement.