$250B tech bill to counter China advances in US Senate

[F-22Raptor]

The U.S. Senate on Thursday advanced a sweeping package of legislation intended to boost the country's ability to compete with Chinese technology, as Congress increasingly seeks to take a tough line against Beijing.

Senators voted 68-30 to end debate on the $250 billion U.S. Innovation and Competition Act of 2021, or USICA, and move nearer to a final vote on the legislation.

The desire for a hard line in dealings with China is one of the few truly bipartisan sentiments in the deeply divided U.S. Congress, which is narrowly controlled by President Joe Biden's fellow Democrats.

Senate Democratic Majority Leader Chuck Schumer championed the bipartisan legislation, which must also pass the House of Representatives to be sent to the White House for Biden to sign into law.

The measure authorizes about $190 billion for provisions to strengthen U.S. technology in general, plus $54 billion specifically to increase production of semiconductors, microchips and telecommunication equipment. read more

The legislation also seeks to counter Beijing's growing global influence through diplomacy, by working with allies and increasing U.S. involvement in international organizations after former Republican President Donald Trump pulled Washington out as part of his "America First" agenda.

One of the amendments to the bill to be considered later on Thursday was one backed by Republican Senator Mike Crapo and Democratic Senator Ron Wyden to retaliate against what they consider China's anti-competitive trade practices and bar products determined to have been produced using forced labor.

https://www.reuters.com/world/us/sw...-enough-support-advance-us-senate-2021-05-27/

 

[Yongpeng Sun-Tastaufen]

They printed the money already?

 

[Nasr]

No one actually gives a ratsasz about what america does, anymore. So if you wanna keep spending money you don't have on things that would make you feel better about yourself and will assuredly sink you into an oblivion, then please go right ahead.

 

[Syed1.]

Lol sure build your iphones in California and sell them for $5,000 apiece. Let's see how many people buy them

 

[m52k85]

Well the world got cheap oil during the oil wars of ~2015. seems tech will become dirt cheap in this tech war to come.

 

[Dual Wielder]

Lol sure build your iphones in California and sell them for $5,000 apiece. Let's see how many people buy them

I'm sure even @Meengla would be tempted at that price..

 

[Meengla]

I'm sure even @Meengla would be tempted at that price..

Everyone here knows I hate Apple Inc! Heck, for years, my profile photo was Boycott Apple. And I have alienated some friends in America who are die-hard Apple fans.
Apple fans are--- fanATICS!

Please keep me out of this discussion.

 

[Zsari]

The U.S. Senate on Thursday advanced a sweeping package of legislation intended to boost the country's ability to compete with Chinese technology, as Congress increasingly seeks to take a tough line against Beijing.

Senators voted 68-30 to end debate on the $250 billion U.S. Innovation and Competition Act of 2021, or USICA, and move nearer to a final vote on the legislation.

The desire for a hard line in dealings with China is one of the few truly bipartisan sentiments in the deeply divided U.S. Congress, which is narrowly controlled by President Joe Biden's fellow Democrats.

Senate Democratic Majority Leader Chuck Schumer championed the bipartisan legislation, which must also pass the House of Representatives to be sent to the White House for Biden to sign into law.

The measure authorizes about $190 billion for provisions to strengthen U.S. technology in general, plus $54 billion specifically to increase production of semiconductors, microchips and telecommunication equipment. read more

The legislation also seeks to counter Beijing's growing global influence through diplomacy, by working with allies and increasing U.S. involvement in international organizations after former Republican President Donald Trump pulled Washington out as part of his "America First" agenda.

One of the amendments to the bill to be considered later on Thursday was one backed by Republican Senator Mike Crapo and Democratic Senator Ron Wyden to retaliate against what they consider China's anti-competitive trade practices and bar products determined to have been produced using forced labor.

https://www.reuters.com/world/us/sw...-enough-support-advance-us-senate-2021-05-27/

Ah state capitalism. As they say, if you can't beat them, join them.

 

[beijingwalker]

The U.S. Senate on Thursday advanced a sweeping package of legislation intended to boost the country's ability to compete with Chinese technology, as Congress increasingly seeks to take a tough line against Beijing.

Senators voted 68-30 to end debate on the $250 billion U.S. Innovation and Competition Act of 2021, or USICA, and move nearer to a final vote on the legislation.

The desire for a hard line in dealings with China is one of the few truly bipartisan sentiments in the deeply divided U.S. Congress, which is narrowly controlled by President Joe Biden's fellow Democrats.

Senate Democratic Majority Leader Chuck Schumer championed the bipartisan legislation, which must also pass the House of Representatives to be sent to the White House for Biden to sign into law.

The measure authorizes about $190 billion for provisions to strengthen U.S. technology in general, plus $54 billion specifically to increase production of semiconductors, microchips and telecommunication equipment. read more

The legislation also seeks to counter Beijing's growing global influence through diplomacy, by working with allies and increasing U.S. involvement in international organizations after former Republican President Donald Trump pulled Washington out as part of his "America First" agenda.

One of the amendments to the bill to be considered later on Thursday was one backed by Republican Senator Mike Crapo and Democratic Senator Ron Wyden to retaliate against what they consider China's anti-competitive trade practices and bar products determined to have been produced using forced labor.

https://www.reuters.com/world/us/sw...-enough-support-advance-us-senate-2021-05-27/

Do you think they can succeed in stopping China's rise?

 

[StraightEdge]

Why do they need to 'counter china' and not just spend on advancing science in US? Problem is that huge part of US population doesn't believe in science. Many won't take vaccines in US - just look at their dwindling numbers of vaccination as they hit 50% of population. America's problem is not China - their problem is Americans itself.

 

[Genghis khan1]

I guess time to buy tech stocks.

Lol sure build your iphones in California and sell them for $5,000 apiece. Let's see how many people buy them

It would be same price, there is no shortage of cheap overworked labour in US.

 

[redtom]

I give some free advice to the US.Raise basic education and send more American children to school.Then they won't be so stupid that they can't point out the US on a globe.And when the US produces more engineers and scientists, it can maintain its technological edge. But when you give money directly to big companies, the only thing that benefits is the stock price.

 

[kankan326]

Compared with all shits US senate passed before, finally it did something decent

 

[Genghis khan1]

Everyone here knows I hate Apple Inc! Heck, for years, my profile photo was Boycott Apple. And I have alienated some friends in America who are die-hard Apple fans.
Apple fans are--- fanATICS!

Please keep me out of this discussion.

They do make better quality products, although overpriced.

 

[beijingwalker]

They do make better quality products, although overpriced.

If you are over priced you will be soon out of market, you produce to sell, not to keep it to yourself. market is everything.