US bars 'advanced tech' firms from building China factories for 10 years
Posted on AllSides September 7th, 2022
From The Center
GETTY IMAGES
US tech companies that receive federal funding will be barred from building "advanced technology" facilities in China for 10 years, the Biden administration has said.
The guidelines were unveiled as part of a $50bn (£43bn) plan aimed at building up the local semiconductor industry.
It comes as business groups have pushed for more government support in an effort to reduce reliance on China.
They are faced with a global microchip shortage which has slowed production.
"We're going to be implementing the guardrails to ensure those who receive CHIPS funds cannot...
