The U.S. Senate last week passed a sweeping package of legislation aimed at enabling the country to compete with Chinese technology as Congress seeks a tougher stance on Beijing.<\/p>\n\n\n\n
The Senate voted 68-30 to end debate on the $250 billion U.S. Innovation and Competition Act of 2021 (USICA), which is now nearing a final vote in the U.S. legislature.<\/p>\n\n\n\n
Once passed by the Senate, the bill must also be approved by the House of Representatives before President Biden can enact it.<\/p>\n\n\n\n
Chuck Schumer, Senate Democratic majority leader and co-author of USICA, said that the U.S. spends less than 1% of its GDP on scientific research, which is less than half of what China does.<\/p>\n\n\n\n
USICA approves about $190 billion in provisions to strengthen U.S. technology, with another $54 billion earmarked to boost production of semiconductors, microchips and telecommunications equipment.<\/p>\n\n\n\n
The law also aims to change China’s growing global influence by working with allies and increasing U.S. involvement in international organizations, countering former U.S. President Donald Trump’s “America First” agenda.<\/p>\n\n\n\n
As the bill moves toward legislation, the Senate also approved an amendment, supported by Republican Senator Mike Crapo and Democratic Senator Ron Wyden, to retaliate against what it considers China’s anti-competitive trade practices and ban products made using forced labor.<\/p>\n\n\n