US and EU must avoid chip subsidy race

Stefan Mileschin · 15th November 2021, 08:09

EU Competition Commissioner warns of money for nothing and your chips for free

The United States and the European Union must avoid a subsidy race as they rush to support semiconductor production amid a global chip shortage, EU Competition Commissioner Margrethe Vestager said.

Vestager said in a speech at the University of Leuven, warned that taxpayers would have to fund any subsidy race and everyone will be poorer.

"In the present circumstances, it may be a temptation too hard to resist for companies to try to play governments out against one another, scanning the landscape to see who will pay more - the risk, of course, is letting taxpayers, whether European or American, pick up the bill and getting maybe very little from that investment," she continued.

She is one of many critics of current government policies of throwing money at chip producers.

In the US Sen. Bernie Sanders warned that congress should work to expand US microchip production but “should not be handing out $53 billion in corporate welfare to some of the largest and most profitable corporations in the country with no strings attached.”

https://fudzilla.com/news/53871-us-a...p-subsidy-race

15th November 2021, 08:09	#1
Stefan Mileschin [M] Reviewer Join Date: May 2010 Location: Romania Posts: 148,769	US and EU must avoid chip subsidy race EU Competition Commissioner warns of money for nothing and your chips for free The United States and the European Union must avoid a subsidy race as they rush to support semiconductor production amid a global chip shortage, EU Competition Commissioner Margrethe Vestager said. Vestager said in a speech at the University of Leuven, warned that taxpayers would have to fund any subsidy race and everyone will be poorer. "In the present circumstances, it may be a temptation too hard to resist for companies to try to play governments out against one another, scanning the landscape to see who will pay more - the risk, of course, is letting taxpayers, whether European or American, pick up the bill and getting maybe very little from that investment," she continued. She is one of many critics of current government policies of throwing money at chip producers. In the US Sen. Bernie Sanders warned that congress should work to expand US microchip production but “should not be handing out $53 billion in corporate welfare to some of the largest and most profitable corporations in the country with no strings attached.” https://fudzilla.com/news/53871-us-a...p-subsidy-race

Similar Threads
Thread	Thread Starter	Forum	Replies	Last Post
You might not be able to avoid TCL's smartphones in 2020	Stefan Mileschin	WebNews	0	7th January 2020 07:13
Huawei sues the FCC over subsidy ban on its telecom equipment	Stefan Mileschin	WebNews	0	5th December 2019 15:10
Police told to avoid looking at recent iPhones to avoid lockouts	Stefan Mileschin	WebNews	0	15th October 2018 07:57
Tesla to cover the cost of Germany's court-ruled subsidy repayments	Stefan Mileschin	WebNews	0	23rd July 2018 14:46
HTC must alter chip in One smartphone to avoid Nokia patents	Stefan Mileschin	WebNews	0	3rd October 2013 08:34
Kids should avoid TV, computers	Stefan Mileschin	WebNews	0	11th October 2012 06:38
The Megahertz Race is Now Officially the Multi-core Race	jmke	WebNews	0	18th April 2008 10:03
How To Avoid Identity Theft	Sidney	WebNews	0	18th November 2005 07:22
How to avoid RSI from computers	jmke	WebNews	0	15th June 2005 21:02
Advanced Micro Narrows Gap in Race for New Chip	Sidney	WebNews	0	20th August 2004 02:06