22 August 2022
Share on

The U.S. government passed the CHIPS and Science Act, writing into law the $280 billion package.  

The $280 billion-dollar bipartisan Chips and Science Act includes tens of billions of dollars for research and development, and around $52 billion in subsidies for U.S. chip companies, $24 billion in tax credits for new manufacturing facilities. 

The legislation is an important step to further prepare our economy for the 21st century and strengthen our regional supply chain diplomacy, including through the U.S.-EU Trade and Technology Council, the Indo-Pacific Economic Framework, and the Americas Partnership for Economic Prosperity. 

× How can I help you?