The Biden administration announced a new trade investigation into Chinese legacy chips. They are used in a wide variety of devices — from mobile phones to military defense systems. The White House said the investigation would be completed by the incoming Trump administration. It can be the first step towards introducing tariffs on Chinese chips.
Previously, Trump promised to introduce a 60% tariff on Chinese imports. He plans to implement this measure on the first day of his inauguration.
A new investigation will be conducted pursuant to Section 301 of the Commerce Act. Previously, on the basis of this law, the Biden administration imposed tariffs on a number of Chinese goods, including electric cars, batteries and solar panels.
A stream of cheap Chinese technological products poured into world markets. Because of this, many American companies went bankrupt.
American officials fear that semiconductors may become China's next priority industry.
President Biden insists on limiting China's access to advanced microchips. His administration also developed an industrial policy aimed at stimulating domestic innovation.
Discussing these measures in a recent interview, US Commerce Secretary Gina Raimondo said, quote: «The only way to beat China — it is to overtake him».
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