On January 2, 2023, Ashley Craig was quoted on international trade issues to watch in 2023, specifically the impact of new regulations that came out in October 2022, restricting what goods and services U.S. entities could share with China's computer chip industry.
According to the article, the Biden administration laid out a series of trade policy offensives to reduce U.S. reliance on China in 2022. The three-pronged approach focused on investing in strategic capabilities at home, shoring up relationships with allies, and competing for dominance in the Indo-Pacific and farther afield.
Regarding supply chain strategy in the chip industry, Craig said that while difficulties over the previous two years have "stabilized a bit," companies and consumers' challenges are far from over. He noted that the domestic semiconductor production boost Washington sought to achieve with the $52 billion CHIPS and Science Act is still a few years away from becoming a reality.
Citing conversations with chip industry leaders, Craig told Law360, “In all probability it is not going to happen for at least another four to five years.” Adding, “We're still highly dependent on our friends in Taiwan and that's going to remain the case for quite some time."
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