Commerce clarifies CHIPS Act’s ‘foreign entity of concern’ definition

The Commerce Department on Friday published a final rule aimed at ensuring subsidies funded by the CHIPS and Science Act do not benefit China, tweaking its definition of a “foreign entity of concern” to exclude Chinese nationals in the U.S. “One of the Biden-Harris Administration’s top priorities -- made possible by the CHIPS and Science Act -- is to expand the technological leadership of the U.S. and our allies and partners. These guardrails will protect our national security and help...