Chinese semiconductor group: U.S. chips bill runs counter to fair trade

The CHIPS and Science Act, recently signed into law by President Biden, threatens the stability of semiconductor supply chains and goes against World Trade Organization “objectives” of fair, nondiscriminatory trade, the Chinese Semiconductor Industry Association said on Wednesday. The new legislation includes funding for a number of semiconductor incentives as well as additional money for emerging technology research and development. It is aimed at reducing reliance on Beijing for semiconductor production and inputs, including by preventing companies that receive incentives...