Biden signs chip law to encourage production shifting to China to return to US

At the ceremony held in the Rose Garden at the White House, President Biden signed the $280 billion chip law, which encourages the return of chip production to China, in the presence of governors of some states, executives of technology companies and special guests.

“The Chip and Science Act I signed today is a law that the American people can be proud of as a once-in-a-generation investment opportunity for the United States. The future of the chip industry will be manufactured in America,” Biden said. said.

Noting that the law is supported by both Democrats and Republicans and that it is of “critical importance”, Biden said, “You are the reason why I am so optimistic about the future of our country. You know, the Chip and Science Act strengthens our efforts to produce semiconductors in America. This investment alone It will create thousands of jobs.” he said.

The US President referred to the analysis that states that semiconductor factories will be built over the next 6 months due to the investment made for the new law, which alone will create more than 1 million jobs.

Speaking to his large audience, Biden told business people at Ros Garden, “Empower employees to create good jobs, grow the economy, grow for everyone, not just the rich, to create greater hope and opportunity for our nation and the world.” used the phrase.

sent to china

President Biden stated that the law that will strengthen the USA’s hand against its rivals disturbs China and said, “No wonder the Chinese Communist Party is actively lobbying the US business world against this bill. The USA should lead the world in the production of these advanced chips. This law will do exactly that.” said.

“We used to be number one in research and development in the world, now we’re at number 9. China was at number 8 decades ago, now it has moved up to second place, and other countries are fast approaching. The United States was leading the world. I promise you that in the next 10 years, it will continue to do so,” Biden said. to be continued.” he said.

The Chip and the Law of Science

On July 27, the U.S. Senate approved the bill envisioning $280 billion in aid to the chip manufacturing industry, with 64 senators voting “yes” against 33 senators’ “no” votes. was adopted by vote.

The chip law to increase semiconductor production in the US aims to alleviate the shortage of chips that has caused production disruption in many industries, from automobiles to electronics.

The law includes approximately $52 billion in subsidies for semiconductor manufacturing, as well as a 25 percent tax cut for four years to encourage the establishment of semiconductor factories.

The news presented to subscribers via the AA News Flow System (HAS) is published on the Anadolu Agency website, in summary. Please contact for subscription.

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