White House Report Part 1 of 2: China’s “Massive Subsidy Campaign”

The White House released a report on Tuesday that details the findings and recommendations of the Administration’s 100-day supply chain review. Among the findings, the report warns of the Chinese government’s “massive subsidy campaign” to dominate emerging markets. President Biden signed an executive order in February that directed the review of four key industries: semiconductors, large capacity batteries, critical minerals and pharmaceuticals. The report states that the Chinese government’s “massive subsidy campaign [as much as $200 billion over the past eight years] to develop its domestic semiconductor capability” has exploited “gray areas” in international trade rules and avoided World Trade Organization (WTO) oversight. The Chinese Communist Party has made a concerted effort to dominate the semiconductor market. The Made in… Read More