CHIPS Act leaves chipmakers facing choice between U.S. and China

Chipmakers are cheering Washington's long-awaited passage of a bill to provide funding for the U.S. semiconductor industry, but accepting those subsidies could tie their hands when it comes to future investments in China.

Is it a price that the likes of Intel, TSMC and Samsung will be willing to pay?

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Another cause for concern, according to Martijn Rasser, a senior fellow and director at the Center for a New American Security, is that the restrictions could be a prelude to even more scrutiny of outbound investments by chipmakers.

"These restrictions underscore that U.S. policymakers are increasingly concerned about U.S. money supporting a buildup of capabilities in China," Rasser told Nikkei Asia. "These restrictions are an initial sketch of elements you would expect in an outbound investment review framework."

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