US lawmakers target Chinese chipmaking equipment imports by CHIPS Act grant recipients [Yahoo! Finance Canada]
Lam Research Corporation (LRCX)
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Source: Yahoo! Finance Canada
PHOENIX (Reuters) -A bipartisan group of U.S. lawmakers introduced a bill on Thursday in the House that ?would block the purchase of Chinese chipmaking equipment by CHIPS Act grant recipients for ?10 years. The bill targets a range of chipmaking tools from complex lithography equipment, like that produced by Dutch manufacturer ?ASML, to machines that slice and dice the silicon wafers on which chips are printed. The bill was introduced in the House by Republican Jay Obernolte and Democratic member Zoe Lofgren. In the Senate, Democrat Mark Kelly and Republican Marsha Blackburn plan to introduce the bill in December. Passed ?under the Biden administration in 2022,? the CHIPS Act was designed to boost the U.S. chip manufacturing industry and allocated $39 billion to spur the construction of new ?factories and expand existing facilities. Chip manufacturers such as Intel, Taiwan's TSMC and South Korea's Samsung Electronics have received grants under the law, though the U.S. later c
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