EU countries back billion-euro chip plan ahead of talks with lawmakers

BRUSSELS: EU countries on Wednesday agreed to a 45-billion-euro ($46.6 billion) plan to fund the production of chips, putting the 27-country bloc a step closer to its goal of reducing its reliance on U.S. and Asian manufacturers.

EU envoys unanimously backed an amended version of the European Commission’s proposal, the Czech Republic which holds the rotating EU presidency said.