The U.S. Senate approved a $ 250 billion legislative package, which offers a framework for how the U.S. plans to overcome growing competition from China.
Much of the package is aimed at increasing the country’s ability to compete with China.
The law will provide financial support in terms of increased investment in research and development in advanced technologies such as artificial intelligence and funding for semiconductor production needed for almost all digital technologies.
By a vote of 68 to 32, the Senate passed the United States Innovation and Competition Act.
After getting Senate approval, the bill will be taken to the Dewan Rakyat level for a vote, where it is expected to face uncertainty as each member of parliament has their own actions.
Meanwhile, in a separate report, China expressed its opposition to the bill.
According to the Xingua news agency, lawmakers accused America of being a ‘paranoid delusion’ and said the US bill would damage bilateral relations between the world’s two largest economies, thus preventing them from cooperating.
