LIVE: President Biden signs China competition bill to boost U.S. chipmakers — 8/9/22

CNBC Television published this video item, entitled “LIVE: President Biden signs China competition bill to boost U.S. chipmakers — 8/9/22” – below is their description.

President Joe Biden on Tuesday is set to sign a bipartisan bill that aims to strengthen U.S. competitiveness with China by investing billions of dollars in domestic semiconductor manufacturing and science research.

Tech executives, union presidents and political leaders from both parties will join Biden at a 10 a.m. ET signing ceremony, the White House said.

The bill, dubbed the Chips and Science Act, includes more than $52 billion for U.S. companies producing computer chips, as well as billions more in tax credits to encourage investment in semiconductor manufacturing. It also provides tens of billions of dollars to fund scientific research and development, and to spur the innovation and development of other U.S. tech.

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LIVE: President Biden signs China competition bill to boost U.S. chipmakers — 8/9/22

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