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Home » Market Update » ‘Chips Act’ will strengthen EU semiconductor supply chain

European Commission President Ursula von der Leyen has pitched a new tool to help the EU catch up in the ever-frantic technological race: a European Chips Act.

According to Reuters she used her annual State of the Union speech to make her intentions clear: the EU must create a “state-of-the-art European chip ecosystem”, including production, to guarantee secure and stable supply chains.

“Digital is the make-or-break issue,” Commission President Ursula von der Leyen said in a policy speech at the European Parliament in Strasbourg on Wednesday.

Europe is already lagging behind the United States which last year announced its ‘CHIPS for America Act’ aimed at boosting its ability to compete with Chinese technology.

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