US House of Representatives Speaker Nancy Pelosi said on Thursday she hoped the Congress can pass the legislation authorising hundreds of billions of dollars to boost the country’s ability to compete with Chinese technology, by July 4.
Congress has been working on China competition legislation for more than a year.
The legislation called the COMPETES Act authorises almost $300 billion for research and development, including $52 billion to subsidise semiconductor manufacturing and research.
https://www.reuters.com/world/pelosi-says-she-hopes-us-congress-can-pass-china-competition-bill-by-july-4-2022-05-19/
Category: China
