Stock Groups

U.S. House leaders set to unveil chips, China competition bill -Breaking


© Reuters. FILEPHOTO: President Joe Biden speaks with a semiconductor chip in his hand before signing an executive directive. The order is aimed at solving the global shortage of semiconductors in February at the White House.

WASHINGTON (Reuters] – The U.S. House of Representatives is set to present a bill on Tuesday to improve U.S. competivity with China, according to aides to Reuters.

As supply chains have become more complicated due to shortages of key components for computers and automobiles, President Joe Biden’s government is trying to get Congress to fund chip production.

Senate approved the U.S. The U.S. Innovation and Competition Act was passed by the Senate last year. It includes $52 million to boost U.S. semiconductor production and $190 billion for U.S. research and technology to rival China.

Disclaimer: Fusion MediaThis website does not provide accurate and current data. CFDs are stocks, indexes or futures. The prices of Forex and CFDs are not supplied by exchanges. They are instead provided by market makers. As such, the prices might not reflect market values and could be incorrect. Fusion Media does not accept any liability for trade losses you may incur due to the use of these data.

Fusion MediaFusion Media or any other person involved in the website will not be held responsible for any loss or damage resulting from reliance on this information, including charts, buy/sell signals, and data. Trading the financial markets is one of most risky investment options. Please make sure you are fully aware about the costs and risks involved.