In the face of the growing technological war with China, the US Senate is expected to approve about 250 billion yuan on Tuesday (8th).U.S. dollar“US Innovation and Competition Act” (US Innovation and Competition Act, USICA)).
The above-mentioned bill is expected to easily gain bipartisan support in the Senate, and the content includes authorization of approximately 190 billionU.S. dollarTo strengthen technical research in the United States, and to approve an additional 54 billionU.S. dollarRegarding the production and research of semiconductors and telecommunications equipment, US Secretary of Commerce Gina Raimondo (Gina Raimondo) previously stated that the above funds are expected to build 7-10 semiconductor factories in the United States.
The bill must be supported by 60 senators, and the follow-up is still pending a vote by the House of Representatives. After approval, it will be sent to Biden to sign legislation.
The global chip shortage has highlighted the problem of excessive concentration in the global supply chain. The above-mentioned bill aims to strengthen the strength of American manufacturers and attract foreign companies to invest in the United States.
Senate Majority Leader Chuck Schumer (Chuck Schumer) said on Monday (7th) that the United States spends less than 1% of GDP on basic scientific research and less than half of China’s. The largest investment in research and technological innovation has led the United States to lead the world with future industries.