US and EU must avoid chip subsidy race

Stefan Mileschin · 15th November 2021, 09:09

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, 09:09	#1
Stefan Mileschin [M] Reviewer Join Date: May 2010 Location: Romania Posts: 153,575	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

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