A senior official of Biden administration said that the United States and the European Union would announce a decision at the second meeting of the US EU trade and Technology Council (TTC) on the 2nd and 3rd of next month to curb the "subsidy competition", and the two regions would compete to increase the production of scarce semiconductor chips.
According to Reuters on the 15th, at its inaugural meeting in Pittsburgh last year, TTC promised to deepen transatlantic cooperation to strengthen the chip supply chain and adopt a more unified way to regulate large global technology companies.
"You will see us announce... A transatlantic semiconductor investment program aimed at ensuring supply security," a senior government official told Reuters in a predictive conference call on Friday Both Washington and Brussels want to encourage chip investment and hope to "invest in a coordinated way, rather than simply encourage the subsidy race."
Continued chip shortages across the industry have disrupted production in the automotive and electronics industries, forcing some companies to cut production. But a US bill to provide $52 billion to chip manufacturers to expand production has stalled in Congress.
The official said that an early warning system for identifying and resolving semiconductor supply chain disruptions would also be announced as part of the meeting, which would be chaired by Secretary of state Anthony Blinken, Secretary of Commerce Gina Raimondo and U.S. trade representative Katherine Tai, with the participation of EU Trade Commissioner Valdis dombrovskis and EU antitrust Commissioner Margrethe vestager. (proofread / Aaron)