U.S. to discuss new chips bill with Taiwan next month

FILE PHOTO: Semiconductor chips are seen on a circuit board of a computer in this illustration picture taken February 25, 2022. REUTERS/Florence Lo/Illustration/File Photo

TAIPEI (Reuters) - The United States will hold talks with Taiwan next month to discuss new U.S. legislation designed to boost the American semiconductor industry, the top U.S. diplomat in Taipei said on Wednesday.

Last month, U.S. President Joe Biden signed into law the Chips and Science Act, which authorised about $52 billion in government subsidies for U.S. semiconductor production and research, as well as an investment tax credit for chip plants estimated to be worth $24 billion.