8/9, 4:58 PM (Source: TeleTrader)
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Biden signs into law CHIPS and Science Act

United States President Joe Biden signed into law the CHIPS and Science Act on Tuesday, which, according to the president, will enhance American efforts to produce semiconductors and create high-paying manufacturing jobs nationwide.

During his remarks, Biden mentioned the bill provides $52.7 billion in funding for US semiconductor industry output and another $200 billion for scientific research. At the same time, the country must regain its leading position in this sector worldwide, surpassing China.

"Fundamental change is taking place today, politically, economically, and technologically," added Biden. "This bill is about more than chips, it's about science as well."

Baha Breaking News (BBN) / JG