Biden signs major semiconductors investment bill to compete against China
1 min read . Updated: 09 Aug 2022, 08:55 PM IST
Premium- Biden said at the White House it will help win the economic competition in the 21st century.
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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