New semiconductor factories are rising in US, but billions in Chips Act money has yet to flow

On August 9, 2022, surrounded by a cheerful crowd of tech executives, union presidents and political leaders from both sides of the aisle, US President Joe Biden signed the Chips and Science Act, also dubbed the China competition act, and declared: “Today, America is delivering.”

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"Given that uncertainty, there is no question that the sooner we get moving on chips the better. Leaving China time to act only opens more options for Beijing in the chip war, some of which could prove detrimental to American interests," Drexel said.

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