Biden signs $52.7 bil. bill for chip production to counter China

From english.kyodonews.net

U.S. President Joe Biden on Tuesday signed into law a bill that invests $52.7 billion in semiconductor production and development in a bid to secure a technological edge amid intensifying competition with China. The enactment of the law, which includes $39 billion in manufacturing incentives, also comes as the United States is accelerating cooperation with Japan, a key security ally, to build resilient semiconductor supply chains that rely less on potential adversaries. Calling the CHIPS and Science Act a "once-in-a-generation investment in America itself," Biden said during the bill's signing ceremony that the ... (full story)