According to recent reports, India has objected to America’s $280 billion semiconductor program at a key World Trade Organization (WTO) meeting.
India has raised objections to the United States’ $280 billion semiconductor programme at a key meeting of the World Trade Organisation (WTO), as per reports.
New Delhi raised the issue at the recent Trade Policy Review of the USA, about the ‘Creating Helpful Incentives to Produce Semiconductors For America’ Act or CHIPS Act.
“This puts more competitive manufacturers globally, at a distinct disadvantage. What steps are proposed to be taken to create an even playing field for global manufacturers in these areas, especially from the developing world,” India asked.
China, joining India said, “China notes that the US has continuously criticised the industrial subsidy policies of other members on various occasions over the years. Please clarify whether the consistent position of the US has changed.”
The US in its reply said that it intends to administer the Act in a manner that is consistent with the US law and its WTO commitments.
The COVID-19 pandemic and the Russia-Ukraine crisis have disrupted global supply chains of semiconductors, which created massive shortages of the important component.
Working out a deal with Xi is in their long-term best interests for the EU, so they are slowly pivoting away from Bidenism.
You can read more about this topic here.