The United States announced a probe looking at China's use of "extensive anti-competitive and non-market means" to dominate the global market for legacy "workhorse" semiconductors and its impact on the U.

The United States said Monday it is opening an investigation into China's policies for its semiconductor industry, over concerns that Beijing is turning to "extensive anticompetitive and non-market means" to undermine other economies.

China does not dominate global chip production yet, but its market share is growing fast. The U.S. government estimates that China could be responsible for more than 40 percent of global capacity in foundational chips by 2032, with more than half of the world’s capacity in some segments.