Tariffs on Chinese to protect the CHIPS Act
Semiconductors manufactured in China will soon face a substantial 50% tariff when entering the United States. The Biden administration announced this tariff increase, up from the previous 25%, last month.
This measure is intended to bolster the $280 billion investment from the CHIPs Act, aimed at enhancing domestic semiconductor manufacturing. The objective is to discourage imports from China and foster a more self-sufficient chip market within the U.S.
While globalization has its benefits, increasing dependence on other countries for essential products has become a significant concern.
