EU countries back billion-euro chip plan ahead of talks with lawmakers

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Reuters UK

By Foo Yun Chee BRUSSELS (Reuters) – EU countries on Wednesday agreed to a 45-billion-euro ($46.6 billion) plan to fund the production of chips, putting the 27-country bloc a step closer to its goal of reducing its reliance on U.S. and Asian manufacturers. EU envoys unanimously backed an amended version of the European Commission’s proposal, the Czech Republic which holds the rotating EU presidency said. European Union ministers will meet on Dec. 1 to rubber stamp the chip plan that will still need to be debated with the European Parliament next year before it can become law. The EU executive,…

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