Communication Flows in International Economic Law:

The US CHIPS and Science Act of 2022

 

The CHIPS and Science Act of 2022 was enacted in July this year. Essentially the legislation has two distinct areas of focus. The first is specific and is concerned with the production of semiconductors within the United States. This is reflected appropriately in the use of the acronym CHIPS – which stands for ‘Creating helpful incentives to produce semiconductors.’ The legislation creates a CHIPS America fund amounting to some 52.7 billion dollars, and this part is set within the National Defense Authorization Act (“NDAA”). Second, there is a wideranging focus on the development of research in the sciences in the United States. For the sciences there are targeted financial incentives, the creation of technological hubs and arrangements for employment diversity and national security measures. In sum, the legislation in its first part is intended to boost research in, and the domestic production of, semiconductors; and in its second part to further research & innovation in the sciences in the United States. In this manner the legislation serves to advance various purposes viz., US industrial strategy; US competitiveness internationally; improving US supply chains and employment; according to US science and innovation a lead position globally; and furthering US ‘national security.’

 

Asif H Qureshi

Editor-in-Chief