U.S, E.U will seek to head off subsidy race over chip production, official says

Investing.com | May 15, 2022 at 6:51 PM
  • The United States and European Union will announce a joint effort to avert a “subsidy race” as they scramble to boost production of scarce semiconductor chips.
  • The move will be unveiled at the second meeting of the U.S.-EU Trade and Technology Council (TTC), taking place on Sunday and Monday in Paris.
  • Both Washington and Brussels want to encourage chip investment, and to “do so in a coordinated fashion and don’t simply encourage a subsidy race.