U.S. aims to block China's access to $52B chip funding.

The US Commerce Department has proposed rules to prevent $52bn in semiconductor manufacturing and research funding from being used by China and other countries deemed of concern. The proposal limits recipients of US funding from investing in the expansion of semiconductor manufacturing in foreign countries of concern such as China and Russia, and limits recipients of incentive funds from engaging in joint research or technology licensing efforts with a foreign entity of concern. It also classifies some semiconductors as critical to national security.