BRUSSELS -The European Union on Tuesday agreed to a 43-billion euro ($47 billion) plan for its semiconductor industry in an attempt to catch up with the United States and Asia and start a green industrial revolution. The EU Chips Act, proposed by the European Commission last year and confirmed by Internal Market Commissioner Thierry Breton, aims to double the bloc's share of global chip output to 20 percent by 2030 and follows the U.S. CHIPS for America Act. Reuters reported on April 5 that a deal was imminent and the confirmation of the EU Chips Act was welcomed by industry players which said it would bring manufacturing capabilities, skills and research and development improvements.

https://business.inquirer.net/396556/eu-takes-on-united-states-asia-with-chip-subsidy-plan

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