The United States Senate Has Passed A Sweeping Bill To Improve The Country's Ability To Compete With Chinese Technology
On Tuesday, the US Senate approved a comprehensive package of laws to improve 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 President Joe Biden's fellow Democrats narrowly control, is a desire for a tough stance in negotiations with China. The bill funds nearly $190 billion for provisions to improve US technology and research and $54 billion for increased semiconductor and telecommunications equipment manufacture and research in the United States.
Senate Democratic Majority Leader Chuck Schumer, a co-sponsor of the bill, stated that the US spends less than 1% of GDP on basic scientific research, less than half of what China spends.
After Republican former President Donald Trump's "America First" policy, the law aims to challenge Beijing's expanding global power through diplomacy, collaboration with allies, and increased US involvement in international institutions.
The bill must also pass the House of Representatives before being forwarded to Biden's desk at the White House. It's unclear what form the measure would take in the House or when it will be considered.
Many businesses in the United States applauded the bill. According to General Motors, the legislation "represents an essential step toward addressing the semiconductor shortfall that continues to impair US automobile manufacturing," according to General Motors. At the same time, Some critics have compared the Senate funding effort to China's "Made in China 2025" high-tech industrial growth initiative, which has long irritated the US.