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The European Parliament and the member countries of the European Union reached an agreement on Tuesday on a text aimed at developing the semiconductor industry to reduce its dependence on Asia in this strategic sector. "Europe is taking its destiny into its own hands", welcomed the European Commissioner for the Internal Market Thierry Breton, welcoming this text known as the "Chips Act".
“By mastering the most advanced semiconductors, the EU will become an industrial power in the markets of the future,” he added. The stated objective is to reach 20% of the world market in 2030, i.e. twice as much as today, by mobilizing 43 billion euros of public and private investment in favor of this industry. The European Union, at the forefront of chip research, has seen its market share fall in recent decades.
The shortage of semiconductors, which has held back the automobile industry, has caused an electric shock. Geopolitical tensions around China, as well as the pandemic, have raised awareness of the need to produce in Europe these essential components mainly imported from Taiwan and Korea, to the point of convincing the Commission to relax its strict framework for aid. State and to assume an interventionist industrial policy in a continent traditionally very open to global competition. These components are essential in many everyday objects, such as mobile phones, but also in data storage centers, at the heart of the booming digital economy.
