During two signing ceremonies in the afternoon, President Joe Biden passed a bill to boost semiconductor production in the United States and a solution ratifying offers by Finland and Sweden to join the Western army alliance.
WASHINGTON (CN) – To cap off a turbulent month in Congress, President Joe Biden on Tuesday afternoon passed legislation to boost domestic production of semiconductors and documents supporting Finland and Sweden’s membership in NATO.
Biden signed the $280 billion Chip and Science Act early Tuesday in front of a slew of lawmakers and employees, declaring that bipartisan law is the key to solving the chain’s problems, boosting U. S. chip production. And counter China’s dominance in the production market.
Biden called the law “an investment in America in itself,” and recalled how the COVID-19 pandemic has triggered an overseas shortage of small electronic chips used in everything from cars and mobile phones to military weapons.
“When the factories that make those chips close, the global economy comes to an abrupt halt, driving up prices for families and for everyone, not just here, but around the world,” the president said before signing the bill. “My friends, we want to make those chips here in america, lower prices and create jobs. “
Congress approved a bill on semiconductor investment studies due in July and offered a $52 bill on U. S. manufacturing subsidies. USA
“China also wants to get ahead of us in making those complicated chips,” Biden said. “The United States will have to lead the world in the production of these complex chips. This law will do just that. “
The semiconductor chip invented in the United States, however, the percentage of semiconductor production in the U. S. The U. S. has declined in recent decades and other countries such as China and Taiwan occupy the largest share of the fashion microchip market.
“In the last century, America’s prosperity was built on our unprecedented commitment to clinical trials and innovation. The question facing America today is whether that prosperity will continue into the next century. Today, by enacting the Chips and Science Act, the largest investment in science production and innovation in decades, we say America’s most productive years are yet to come,” Senate Majority Leader Chuck Schumer said as he signed the bill.
Idaho-based manufacturer Micron Technology said Tuesday it plans to invest $40 billion in domestic semiconductor production legislation. Biden said Micron estimates the allocation will create 40,000 jobs in the United States.
The Chips and Science Act is just one of many expenses that made their way through Congress in recent weeks before lawmakers hit the road for the August holidays.
Before leaving Washington, Congress passed bipartisan gun legislation, a bill for veterans affected by exposure to poisonous substances, and the Senate voted to pass a sweeping climate replacement law and agreed to ratify Sweden and Finland’s club in NATO.
“What six weeks it’s been for the Senate,” Schumer said.
Late Tuesday afternoon, Biden had a moment to do a singing rite by officially approving and approving offers from Sweden and Finland to join NATO.
“This is a watershed moment. I’m in the alliance and in greater security stability, not just of Europe and the United States, but of the world,” Biden said in a speech at the White House.
The two Nordic nations have long avoided enrolling in the alliance, favoring instead methods of non-alignment with other foreign nations. But in May, the two countries officially implemented the club and NATO invited them to sign up for the alliance in June, a significant geopolitical shift for global politics.
Last week, the Senate voted 95 to 1, and Republican Senator Josh Hawley of Missouri cast the vote against it to bring the two countries into NATO.
The U. S. ratification of the Finland-Sweden club comes just about six months after Russia invaded Ukraine, leading a brutal attack on the former Soviet country and sparking the geopolitical climate of the past.
“Putin has the idea that he can separate us. When it all started, I believed it could separate us, in my opinion, weaken our resolve. Instead, he gets precisely what he didn’t want. He sought the Finnishing of NATO. It gets NATO from Finland, with Sweden,” Biden said.
The legislatures of NATO’s 30 member countries will have to ratify the club’s programs of Finland and Sweden before they can sign up for the Western alliance. The United States is the 23rd member country to approve its club.
“Together with our allies and partners, we will write down the long term we need to see. The long term we need to see. And at a time when Putin’s Russia has shattered peace and security in Europe, when autocrats are questioning the very foundations of a rules-based order, the strength of the transatlantic alliance, America’s commitment to NATO is more than ever,” Biden said.
He added: “Our alliance is closer than ever. It is more united than ever, and when Finland and Sweden increase the number of allies to 32, it will be more powerful than ever. “
Subscribe to the Top 8, a summary of the day’s stories right in your inbox Monday through Friday.