All articles tagged with #us industrial policy
The US is increasing control over strategic industries, especially rare earth minerals, to counter China's dominance and reduce reliance on Chinese technology, amid escalating trade tensions and China's new export controls.
Since the passage of the Inflation Reduction Act and the Chips and Science Act, over $224 billion worth of cleantech and semiconductor manufacturing projects have been announced in the US, promising to create 100,000 jobs. The largest commitments have come from semiconductor groups, with Intel, Taiwan Semiconductor Manufacturing Company, IBM, and Micron leading the way. Certain states and regions, such as Georgia, South Carolina, Michigan, and Ohio, have secured the most projects. Surprisingly, more than 80% of these investments are heading to Republican districts, despite lukewarm support from congressional Republicans for the legislation. However, there are concerns that a potential future Republican administration may roll back the legislation.