The U.S. has accused China of rigging the steel, aluminum, and green technology markets, and the semiconductor industry is the latest in the crosshairs.

A White House working group has accused China of rigging the global semiconductor market by artificially reducing prices of chips. The President's Council of Advisors on Science and Technology (PCAST) also recommended ways to ward off the China threat and to strengthen the domestic market.

China is encroaching on the U.S. semiconductor market through acquisitions and using state-driven policies and interference to hurt innovation, PCAST said in its report.

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