US readies rules to prevent China from cashing in on $52b chip funding

US readies rules to prevent China from cashing in on $52b chip funding

FILE PHOTO: U.S. and Chinese flags are seen through broken glass in this illustration taken, January 30, 2023. REUTERS/Dado Ruvic/Illustration

The U.S. Commerce Department on Friday is issuing final rules to prevent semiconductor manufacturing subsidies from being used by China and other countries deemed to pose American national security concerns.