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EU aims to be independent chip power with 20% global share

Plan seeks to buffer bloc from US-China tensions that disrupt supply chains

A technician adjusts a laser at Trumpf, a German company that supplies CO2 laser technology to Dutch ASML, a leader in semiconductor lithography machines.   © Reuters

BRUSSELS -- The European Union put forward a plan Tuesday that called for the bloc to produce a fifth of advanced semiconductors worldwide in a vision that echoes the U.S. pursuit of a tech supply chain that is independent of China.

A cornerstone of the Digital Compass plan is the investment of about 140 billion euros ($166 billion) into the digital sector over the next two to three years. The financial resources will come from a coronavirus recovery fund, equivalent to roughly 20% of the package.

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