The CHIPS Act and Onshoring Semiconductor Production

The 2022 CHIPS Act allocated over $50 billion in incentives to boost domestic semiconductor manufacturing and research and development. Two years on, how successful has the Act been in bringing semiconductor fabrication to the United States? More broadly, what was the rationale behind offering sizeable incentives to onshore chip production? And as other countries offer subsidies of their own, what effects are we likely to see in the manufacturing dynamics of both foundational and more advanced semi-conductors? Chris Miller joins EconoFact Chats to discuss these and other questions. Chris is an Associate Professor of International History at the Fletcher School at Tufts University. He is also the author of the bestselling book 'Chip War: The Fight for the World's Most Critical Technology.'