USA-Biden signs semiconductor law enforcement order

WASHINGTON, Aug 25 (Reuters) – U.S. President Joe Biden on Thursday signed the executive order aimed at reviving semiconductor production through a $52.7 billion ($52.9 billion) subsidy package. euros), announced the White House.

This text, adopted in July by Congress and promulgated at the beginning of the month by the Head of State, aims to encourage investment and the development of research in order to compete with China in a persistent context of shortage of semiconductors.

The new law notably provides for a 25% investment tax credit for chip factories, for a total amount estimated at 24 billion dollars.

The Department of Commerce should allocate funds. The date on which these funds will be available and the deadlines for their disbursement were however not yet known.

The executive order establishes six priorities for implementing the law and creates a 16-member council that will be co-chaired by the director of the White House National Economic Council, the national security adviser, and the acting director of the Office of science and technology policy.

(Report David Shepardson; French version Elena Vardon and Camille Raynaud, told by Sophie Louet)

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