Skip to content

September 2022 / VIDEO

Semiconductor Subsidies Signal Shift in U.S. Industrial Policy

Focus on shoring up key supply chains likely has legs

Key Insights

  • In our view, the CHIPS and Science Act of 2022 signals that the U.S. government is committed to advancing domestic semiconductor manufacturing.
  • We could see further government efforts to secure other links in the supply chain by working with allies and nearby nations.
  • Adjusting these supply chains to address concerns about security and economic competitiveness will take time and is likely to be inflationary.

Download here the full report.


This material is being furnished for general informational and/or marketing purposes only. The material does not constitute or undertake to give advice of any nature, including fiduciary investment advice, nor is it intended to serve as the primary basis for an investment decision. Prospective investors are recommended to seek independent legal, financial and tax advice before making any investment decision. T. Rowe Price group of companies including T. Rowe Price Associates, Inc. and/or its affiliates receive revenue from T. Rowe Price investment products and services. Past performance is not a reliable indicator of future performance. The value of an investment and any income from it can go down as well as up. Investors may get back less than the amount invested.

The material does not constitute a distribution, an offer, an invitation, a personal or general recommendation or solicitation to sell or buy any securities in any jurisdiction or to conduct any particular investment activity. The material has not been reviewed by any regulatory authority in any jurisdiction.

Information and opinions presented have been obtained or derived from sources believed to be reliable and current; however, we cannot guarantee the sources' accuracy or completeness. There is no guarantee that any forecasts made will come to pass. The views contained herein are as of the date noted on the material and are subject to change without notice; these views may differ from those of other T. Rowe Price group companies and/or associates. Under no circumstances should the material, in whole or in part, be copied or redistributed without consent from T. Rowe Price.

The material is not intended for use by persons in jurisdictions which prohibit or restrict the distribution of the material and in certain countries the material is provided upon specific request.  

It is not intended for distribution to retail investors in any jurisdiction.

Previous Article


Fed’s Inflation Fight Likely to Persist
Next Article

September 2022 / WEBINAR

Webinar replay: Selectivity and a Steady Hand Amid Uncertainty