HONG KONG (Reuters) - China’s commerce ministry said that a major new chips act passed by the U.S. Congress will distort the global semiconductor supply chain and disrupt international trade.
The U.S. House of Representatives passed the sweeping legislation on Thursday to subsidize the domestic semiconductor industry as it competes with Chinese and other foreign manufacturers.
China will continue to monitor the progress and implementation of the U.S. act and take measures to safeguard its legitimate rights when necessary, the ministry said in a statement.