San Francisco —  The US chip industry said it needs as much as $50bn in federal incentives to halt a decades-long trend of manufacturing moving overseas as China spends heavily to become a leading semiconductor producer.

The federal government needs to deploy $20bn to $50bn to make the US as attractive a location for plants as Taiwan, China, South Korea, Singapore, Israel and parts of Europe, the Semiconductor Industry Association (SIA) said in a study released Wednesday. Failure to do that threatens US leadership of the sector as a whole, it added...

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