The U.S. House of Representatives on Friday narrowly passed a multibillion-dollar bill aimed at increasing American competitiveness with China and boosting U.S. semiconductor manufacturing, despite Republican opposition.
Chinese and U.S. flags flutter outside a company building in Shanghai, China November 16, 2021. REUTERS/Aly Songaimed at increasing American competitiveness with China and boosting U.S. semiconductor manufacturing, despite Republican opposition.
"Every day we delay we fall farther behind and that increases our domestic national security risk," Commerce Secretary Gina Raimondo told a news conference. The bill would authorize $8 billion in U.S. contributions to the Green Climate Fund, established by the Paris Agreement to combat climate change, to help developing countries cope.House Speaker Nancy Pelosi told reporters before the vote that she intended to begin negotiations with the Senate quickly.
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