Early next week, U.S. President Joseph Biden was required to sign a package of laws defining a mechanism for providing subsidies for the construction of new semiconductor industries in the United States.
It will be recalled that a portion of the $52 billion would be claimed by companies in the United States that are going to build semiconductor production facilities. It is clear that the anti-Chinese rhetoric has not cost the initiative. In particular, grantees have committed themselves for 10 years not to promote the export of semi-conductor products to China and other "concerning countries", including those manufactured in accordance with mature lithographic standards. Grantees are prohibited from and developing the production of semi-conductor products on the territory of the PRC and other countries that would be subject to such restrictions. All this puts TSMC and Samsung Electronics, which aim to build new enterprises in the United States, but are unlikely to have originally thought that they would have to limit their interaction with China in order to gain access to subsidies.
In addition, the U.S. Department of Commerce is committed to monitoring the rational use of public funds to support companies that develop chips throughout the country. The Authority wants to eliminate artificial over-budgeting by applicants, as well as to prevent subsidies from being used to buy shares from the market or to pay dividends to shareholders.