According to news reports on Aug. 9th, U.S. President Joe Biden signed a bipartisan bill worth $280 billion on Tuesday, which aims to boost domestic high-tech manufacturing. It is part of the administration’s push to make America more competitive with China.
The bill would incentivize overall investment in the U.S. semiconductor industry to ease America’s reliance on overseas supply chains for key cutting-edge goods, and the legislation earmarked $52 billion specifically to support the U.S. computer chip industry, the report said. It was revealed that the leading U.S. chipmaker Micron will invest as much as $40 billion in a plan to boost domestic chip storage inventories, while Qualcomm and another company will also spend $4.2 billion to expand its chip plant in upstate New York.
It is reported that the U.S. Government views this legislation as a critical component in the fight against the rising Communist China because of its significance in ensuring that the U.S. maintains a competitive advantage with Beijing, particularly in semiconductor manufacturing. MOS Gospel Team
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