The CHIPS and Science Act of 2022 allocated billions of dollars to manufacturing in the US, creating 15,000 semiconductor jobs and showing a positive impact on employment in this sector. The law aims to stimulate the industry and strengthen economic security.
Europe must implement risk mitigation strategies, adapting tools to a changing geopolitical context. It is recommended to reduce dependencies on critical materials and digital and financial sectors, identify critical points in supply chains and use the Anti-Coercion Instrument selectively. Additionally, it is suggested to use industrial policy tools and economic associations in a balanced way, avoiding penalizing partners in trade agreements.
The European Union needs a balanced strategy to reduce its dependence on the United States and China, improving its ability to counter coercive economic threats. The EU must identify critical points in supply chains, discuss the use of the Anti-Coercion Instrument, and strengthen economic associations and governance structures to manage economic security tools. Emphasis is placed on adapting to new scenarios.
