BEIJING — China on Wednesday slammed a U.S. law to motivate processor chip production in the United States and minimize dependence on Asian providers as a risk to trade and an attack on Chinese service.
The law signed this week by President Joe Biden assures $52 billion in grants and other help to financiers in U.S. chip factories. It reacts in part to cautions that materials may be interrupted if China attacks Taiwan, which produces up to 90% of high-end chips. China’s judgment Communist Party declares the self-ruled island as part of its area.
The step will “disrupt global trade and misshape international semiconductor supply chains,” stated a Foreign Ministry representative, Wang Wenbin. “China strongly opposes that.”
Parts of the law “restrict business’ typical financialinvestment a