CHIPS Bill: US President Joe Biden to Sign Bill to Boost US Semiconductor Industry on August 9

Biden will sign a bill to subsidize the US semiconductor industry next Tuesday, in an attempt to ease the ongoign chip crisis and boost efforts to make the United States more competitive with China. The CHIPS bill provides about $52 billion (roughly Rs. 4,11,400 crore) in government subsidies for research and US production of semiconductors.