According to the European Commission, the EU currently accounts for only 10% of global semiconductor production, while Asia accounts for 75%. The EU Chips Act a

According to the European Commission, the EU currently accounts for only 10% of global semiconductor production, while Asia accounts for 75%. The EU Chips Act aims to increase the region's share of global semiconductor production to 20% by 2030. The EU Chips Act is part of a wider trend of governments around the world seeking to boost domestic semiconductor manufacturing capabilities especially after Covid-19 pandemic. In reality I would think its been heavily lobbied by big tech chips like Intel, TSMC, and Infineon, as they been investing into the EU or have big plans for future expansion there.