US Senate passes an industry-related law to reduce dependency on China

this US Senate confirmed on Wednesday draft law to strengthen the country’s supply chains and plans to subsidize $52,000 million.microchipping to improve position United States of America in competition with Chinese.

This arrangement received the approval of the Upper House by 64 votes in favor and 33 against, and plans to invest a total of 280,000 million, of which 52,000 million is to encourage the installation of national semiconductor factories.

US President Joe Biden congratulated in his statement for the approval of a “historic” initiative in his opinion in the Senate.

“At a time when Americans are concerned about the state of the economy and the cost of living, CHIPS Project Offers an Answer: It Will Accelerate Semiconductor Manufacturing in the United Stateslowering the prices of everything from cars to dishwashers. It will also create well-paying jobs here in the United States.”

This proposal is also intended reduce inequalities in the authorization of fundsand so that more universities can participate in federal efforts to compete with China.

However, despite the Democrats having a majority there, and the speaker of this House, Nancy Pelosi, who is also a Democrat, her final approval still needs to go through the House of Representatives.

The US government is considering Domestic production of microprocessors is an important issue for economy and national security.especially because of the huge market dominance that China has in this area.

The global economy has been affected since 2020, in part by the effects of the covid-19 pandemic, trade tensions between China and the United States, and the microchip shortage caused by climate factors.

Source: Informacion

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