US President Joe Biden Signs Landmark CHIPS Bill to Boost Semiconductor Manufacturing, Competition With China

US President Joe Biden signed signed the CHIPS Act on Tuesday, the new legislation that provides $52.7 billion (roughly Rs. 4,19,400 crore) in subsidies for US chip production and research. The bill was also designed to boost efforts to make the US more competitive with China and motivate firms to manufacture more chips in the country.

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