Semiconductor industry seeks federal assistance

The semiconductor industry is seeking a $37 billion financial aid package from the federal government in a bid to reduce the United States' dependance on China for computer chip technology, an idea that has gathered support as the coronavirus pandemic has exposed the dangers of a high-tech trade imbalance with Asia. The Wall Street Journal was the first to report the proposal, which is being prepared by the Semiconductor Industry Association.The aid package, which faces an uncertain fate in Congress, could potentially aid GlobalFoundries and other chip companies operating in New York with billions of dollars in block grants that would be available to states to bolster computer chip manufacturing.