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Market Movers: Semiconductor competition heats up
This week, the year-long chips war between the US and China has taken a new turn. President Joe Biden on Tuesday signed a bipartisan bill that aims to strengthen US competitiveness with China by investing billions of dollars in domestic semiconductor manufacturing and science research. The bill includes more than $52B for US companies producing computer chips, as well as billions more in tax credits to encourage investment in semiconductor manufacturing. #UnitedStates #China #Semiconductor
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