EU plans ‘Chips Act’ to promote semiconductor self-sufficiency

STRASBOURG: The European Commission announced plans on Wednesday for a new chipmaking “ecosystem”, to keep the EU competitive and self-sufficient after a global semiconductor shortage showed the hazards of relying on Asian and U.S. suppliers.

The United States last year announced its CHIPS for America Act aimed at boosting its ability to compete with Chinese technology.

“Digital is the make-or-break issue,” Commission President Ursula von der Leyen said in a policy speech at the European Parliament in Strasbourg on Wednesday.