Biden administration launches Section 301 investigation into China's semiconductor industry

The Biden administration recently asked the Office of the United States Trade Representative to launch a Section 301 investigation, focusing on China's dominant position in mature nodes and its impact on the U.S. economy, as well as China's impact on silicon carbide substrate or other wafer production. In addition, the U.S. government plans to increase the tariff rate on Chinese chips from 25% to 50%.