Joe Biden is expected to sign a new bill offering manufacturers $52 billion in government subsidies
The legislation contains"guardrails"—supported by the White House—that would restrict the ability of subsidized companies to invest in China. Those restrictions could include preventing companies from manufacturing the most advanced chips in China.
It remains to be seen what the guardrails in the final bill will be once it has passed both chambers but White House Press Secretarysaid on Monday that the Biden administration continues"to support strong guardrails" in the legislation.
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