The European Parliament and the Council reached agreement to proceed with a European Chips Act aimed at strengthening European competitiveness and resilience in this strategic sector. The European Union aims to to double its current global market share of semiconductor manufacturing to 20% in 2030. There are three pillars to the European Chips Act. https://commission.europa.eu/strategy-and-policy/priorities-2019-2024/europe-fit-digital-age/european-chips-act_en