EU plans 'Chips Act' to promote semiconductor self-sufficiency

European Commission President Ursula von der Leyen delivers a speech during a debate on "The State of the European Union" at the European Parliament in Strasbourg, France, September 15, 2021. REUTERS/Yves Herman

STRASBOURG (Reuters) -The European Commission announced plans on Wednesday for a new chipmaking "ecosystem", to keep the EU competitive and self-sufficient after a global semiconductor shortage showed the hazards of relying on Asian and U.S. suppliers.

The United States last year announced its CHIPS for America Act aimed at boosting its ability to compete with Chinese technology.