A tale of US industrial policy…

1. The Pentagon scrapped $2.5b in chips funding

2. Congress saddled Commerce w the burden — so Commerce scrapped commercial R&D funding

3. Now Applied Materials is reconsidering a $4b R&D investment, per San Francisco Chronicle: sfchronicle.com/politics/artic…

Taiwan remains TSMC’s most important production center, despite its investment in 3 fabs in the US state of Arizona, Taiwan’s economics ministry reportedly said, adding 80% - 90% of TSMC’s production capacity remains in Taiwan. (Note: Taiwan media lament losing investments and…

NEW: Federal officials missed thousands of payments, including electric bills and travel reimbursements, because of a new Commerce Dept. financial system rolled out at NOAA. Power outages and a union grievance followed.

news.bgov.com/bloomberg-gove…

TSMC has reached a preliminary agreement for up to $6.6b in grants & $5b in loans from the Chips Act

The biggest news: The firm will build a third fab in AZ — for 2nm or possibly even more advanced chips — bringing its total US investment to $65b bloomberg.com/news/articles/…

Breaking: Senior US officials plan to visit the Netherlands on Monday to pressure the Dutch government to toughen its China chip equipment measures. Biden officials want the Netherlands to curb ASML's servicing in China.
With Jenny Leonard
bloomberg.com/news/articles/…

The US is asking South Korea to adopt restrictions on semiconductor tech exports to China similar to those Washington already has in place — covering equipment for making logic chips more advanced than 14nm & DRAM memory chips beyond 18nm

w/ Sam Kim bloomberg.com/news/articles/…

The U.S. government has long struggled to track non-shooting deaths involving police, like the restraint that led to George Floyd's death.

An investigation led by the AP sought answers and found more than 1,000 deaths over a decade. apnews.com/article/associ…

personal news: I'm starting a new role with the municipal finance team Bloomberg. I'll cover high-yield muni debt, state and local finances, infrastructure projects and more in the New England region - namely Boston. very excited to start so pls say hi: [email protected]

Spoke with ⁦Apple News⁩ Today about our reporting on how the fentanyl crisis is taking center stage as the 2024 presidential election nears.

Tune in, here: apple.news/nowPlaying/Azk…

The US is asking allies to impose more restrictions on maintaining chipmaking equipment in China, BISgov’s Alan Estevez said

Officials are not looking to limit servicing of more peripheral parts that Chinese firms could maintain themselves, he added
bloomberg.com/news/articles/…

The missing men are from El Salvador, Guatemala, Honduras & Mexico, and live in Dundalk & Highlandtown. They are in their 30s and 40s, he said, w spouses & children.
All of them came to the city for a better life.
“They are all hard-working, humble men' thebaltimorebanner.com/community/tran…

I’m moving into a new role on Bloomberg’s Bloomberg Technology team, covering industrial policy, geopolitics & the fight for supremacy in strategic tech sectors — especially semiconductors

I officially start in April, but you should say hi now! [email protected]/DM for Signal

China will sue the US at the World Trade Organization over rules which discourage electric-vehicle manufacturers from sourcing battery materials from the country, James Mayger reports bloomberg.com/news/articles/…

China’s exports of EVs to European Union countries dropped by nearly a fifth during the first two months of the year, according to official Chinese data, amid a probe by Brussels into unfair subsidies of the industry trib.al/G91C845

For Businessweek, I dug into the rise of co-working spaces for spies and government contractors with high level security clearances (yes, it’s a thing). Have a read here: bloomberg.com/news/articles/…

Biden admin huddled with Sens. Casey, Brown before coming out against US Steel sale to Japanese rival

It’s just the latest example of Rust Belt concerns — and fear of Trump — guiding the admin’s protectionist policies

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