CNN
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Commerce Secretary Gina Raimondo on Thursday laid out the Biden administration’s ambitious vision for the implementation of the CHIPS and Science Act over the next decade.
The act was signed into law by President Joe Biden last summer and will allow the government to invest more than $200 billion over the next five years in a bid to help the United States regain a leading position in manufacturing semiconductor chips – a crucial component used in everything from cars to phones to health care devices to defense capabilities. The law is aimed at countering China’s growing economic influence, lowering the cost of goods, making the US less reliant on foreign manufacturing and mitigating supply chain disruptions.
In her speech on Thursday, Raimondo likened the administration’s long-term goals to implement the law to moments in American history that galvanized the science…
