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European Union nations agrees to fund semiconductor production


The European Union nations agreed to a $44 billion (€43 billion) plan to fund the bloc’s own semiconductor production.

As a result, 27 countries will reduce their reliance on manufacturers from the United States and Asia. A meeting will be held in December to discuss this plan with the European Parliament before it becomes law. Taiwan is the world’s largest contract chip manufacturer, with $61.5 billion in revenue reported last year.



Taiwan produces 60% of the world’s semiconductors, resulting in a growing tech conflict between China and Western countries. The European Union has unanimously agreed to reallocate $400 million in semiconductor research funds raised by countries with small chip industries.

This proposal arose in response to the global chip shortage, which impacted automakers, health care providers, and telecom operators.

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