The US is firing back again in the great China chip wars

• The Biden administration may impose new sanctions on several Chinese chip firms linked to Huawei.
• It's also planning to allocate $8.5 billion in grants to Intel to build chip facilities in the US.
• The moves are all part of US attempts to curb China's industry while boosting its own.

The US took another couple of swings at China in the chip battle between the global superpowers.