The Week (US)

Trade: Bipartisan bill to aid U.S. firms in China rivalry

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The Senate passed one of the largest industrial bills in U.S. history this week in an effort to remain competitiv­e with China, said Thomas Franck in CNBC.com. The $250 billion U.S. Innovation and Competitio­n Act received bipartisan support, passing the chamber 68-32. It commits “funding for scientific research, subsidies for chipmakers and robot makers, and an overhaul of the National Science Foundation.” Roughly $52 billion would be provided “to fund semiconduc­tor research, design, and manufactur­ing” to reduce reliance on Asian chipmakers.

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