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The Biden administration is set to unveil tight restrictions on new operations in China by semiconductor manufacturers that get federal funds to build in the US.
The $50 billion CHIPS and Science Act will bar firms that win grants from expanding output by 5 per cent for advanced chips and 10 per cent for older technology, according to officials at the Commerce Department, which will disburse the funds.
The department on Tuesday will outline the new restrictions, which will include a $100,000 spending cap on investments in advanced capacity in China, as well as other measures, said the officials, who asked not
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