"US Senate passes a sweeping package to compete against Chinese technology"

9th June,2021

"US Senate passes a sweeping package to compete against Chinese technology"



On Tuesday, the United States Senate approved a sweeping package of legislation aimed at improving the country's ability to compete with Chinese technology by a vote of 68-32.
One of the few bipartisan sentiments in the highly divided US Congress, which is tightly dominated by President Joe Biden's fellow Democrats, is a willingness to take a hard line in relations with China.
The bill authorises around $190 billion for provisions to improve U.S. technology and research, as well as $54 billion for increasing semiconductor and telecommunications equipment production and research in the United States, including $2 billion for chips used by automakers that have faced major shortages and had to reduce production.
The bill has numerous other China-related provisions too.
Senate Majority Leader Chuck Schumer, a co-sponsor of the bill, cautioned that failing to finance research to keep up with China would have dire consequences.
Praising the bill, US President Joe Biden said, "We are in a competition to win the 21st century, and the starting gun has gone off . We cannot risk falling behind."