World News

EU Says Chips Policy Aim Is to Ensure Resilient Supply Chain

Distressed Patriotic Flag Unisex T-Shirt - Celebrate Comfort and Country $11.29 USD Get it here>>


European Commission Vice-President in charge of Europe Fit for the Digital Age, Margrethe Vestager talks at the start of a meeting of the College of Commissioners at the Berlaymont, in Brussels, Belgium on Nov. 10, 2021. (Stephanie Lecocq/Pool via Reuters)

BRUSSELS—The European Union’s policy on state aid for the production of semiconductors will seek to avoid a subsidy race, and companies must aim for diversification to ensure a robust supply chain across the bloc, the European Commission said on Thursday.

“Each case for the supply of semiconductors will be rigorously assessed based on their respective merits, so as to ensure that a project has a European nature and of course avoid a subsidy race within the union and beyond,” European Commission for Competition Margrethe Vestager told a news conference.

She said self-sufficiency is “an illusion” and, given the scale of what is needed, no country or company can provide it alone.

“That is why the aim should be a diversification among like-minded partners to build a resilient supply chain and to avoid single points of failure,” she said.

Reuters

Follow



Source link

TruthUSA

I'm TruthUSA, the author behind TruthUSA News Hub located at https://truthusa.us/. With our One Story at a Time," my aim is to provide you with unbiased and comprehensive news coverage. I dive deep into the latest happenings in the US and global events, and bring you objective stories sourced from reputable sources. My goal is to keep you informed and enlightened, ensuring you have access to the truth. Stay tuned to TruthUSA News Hub to discover the reality behind the headlines and gain a well-rounded perspective on the world.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.