Chipmaking companies that receive U.S. taxpayer funding under the $280 billion CHIPS Act of 2022 will be able to do business with foreign countries like China after a 10-year waiting period, according to guidelines released by the U.S. Department of Commerce on Tuesday.
The legislation that President Biden signed last month was designed to build a domestic supply chain for computer chips, used for electronic devices and vehicle technology, as a way to reduce reliance on other countries like China and Taiwan.
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