National Security Update – Departments of Commerce and Treasury Release Notice of Proposed Rulemaking Regarding CHIPS “Guardrails”

By Jonathan Wakely, Michael Wagner, David Fagan, Brian Kim & Jamin Koo on April 10, 2023

Posted in Congressional Action, International Strategy, National Security, Regulatory, Trade Agreements

On March 21, 2023, the Department of Commerce (“Commerce”) published a Notice of Proposed Rulemaking (the “Commerce Proposed Rule”) to implement certain provisions of the CHIPS and Science Act of 2022 (“CHIPS Act”) that place restrictions on certain activities of businesses receiving federal funding pursuant to the CHIPS Act (“Commerce…