The US and the EU have agreed to increase their partnership for 3 years to handle points within the semiconductor sector, notably regarding legacy chips from China, Reuters reported on Friday. The 2 sides issued a 12-page joint assertion on the assembly’s outcomes, which outlined plans for the US and the EU to alternate market intelligence on China’s “non-market” insurance policies and seek the advice of on deliberate actions to handle associated points within the international provide chain. Throughout a press convention, US Commerce Secretary Gina Raimondo said that China at present produces round 60% of legacy chips utilized in cars, family home equipment, and medical units. [Reuters]
