By Bank of Finland Institute for Economies in Transition (BOFIT) Microchips are semiconductor components used in electronic devices to perform various tasks. The most important of them are calculation and data storage. They are central to technological development, because they are used for the development of artificial intelligence models, and thus in countless objects such as weapon systems and cars, the Bank of Finland institute for Emerging Economies (BOFIT) reports. Microchips became the focus of trade policy when the United States began to limit the export of the most advanced microchips…