US Senate Majority Leader Chuck Schumer has asked his Democratic colleagues to draft a legislative package to ‘outcompete’ China. He also asked to create new American jobs and invest in strategic partners and alliances like NATO and India. On a caucus call on Tuesday, Mr Schumer discussed his push to direct Senate committees.
The legislation will have as its centerpiece a bicameral, bipartisan bill, the Endless Frontiers Act, which Mr Schumer introduced last year. “We will make serious investments in strengthening the US semiconductor industry to outcompete China and stop depending on foreign sources, Schumer said.
He said at present semiconductor manufacturing is a dangerous weak spot in US economy and national security and that has to change.
“You’ve all seen that auto plants throughout America are closed because they can’t get the chips. We cannot rely on foreign processors for the chips. We cannot let China get ahead of us in chip production. This will be part of the proposal that we will introduce,” Mr Schumer said.
