U.S. Senate passes sweeping bill to address China tech threat

Economic Indicators8 hours ago (Jun 08, 2021 06:50PM ET)

(C) Reuters. FILE PHOTO: Chinese and U.S. flags flutter outside the building of an American company in Beijing, China, January 21, 2021. REUTERS/Tingshu Wang

WASHINGTON (Reuters) – The U.S. Senate on Tuesday voted 68-32 to approve 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.

The bipartisan measure authorizes about $190 billion for provisions to strengthen U.S. technology and research — and would separately approve spending about $50 billion to increase U.S. production and research into semiconductors and telecommunications equipment. The bill must also pass the House of Representatives to be sent to the White House for President Joe Biden to sign into law.

U.S. Senate passes sweeping bill to address China tech threat

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