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Business News/ News / World/  Biden signs major semiconductors investment bill to compete against China
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Biden signs major semiconductors investment bill to compete against China

Biden said at the White House it will help win the economic competition in the 21st century.

Biden signs major semiconductors investment bill to compete against China (AP)Premium
Biden signs major semiconductors investment bill to compete against China (AP)

President Joe Biden signed into law Tuesday a multibillion dollar bill boosting domestic semiconductor and other high-tech manufacturing sectors that US leaders fear are being dominated by rival China.

The Chips and Science Act includes around $52 billion to promote production of microchips, the tiny but powerful and relatively hard-to-make components at the heart of almost every modern piece of machinery.

Biden said at the White House it will help "win the economic competition in the 21st century."

 

 

 

 

 

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Published: 09 Aug 2022, 08:55 PM IST
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