Currently, US semiconductors are a measly 10% of global production. Most chips are produced in Asia, particularly South Korea and Taiwan, and the Biden administration has pushed the Chips and Science Act to boost development and production domestically. The CHIPS Act earmarks $52 billion to revert a decades-long trend of US production shifting abroad to low-cost labor regions. There was evidence some of this production is being reshored, according to a WSJ report, revealing Taiwan Semiconductor Manufacturing Co., the world's largest contract…
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