WASHINGTON (Pakistan Point News / Sputnik - 26th January, 2022) The US House of Representatives leadership unveiled new legislation aimed at increasing competitiveness with China in the economic and national security realms, President Joe Biden said in a statement on the legislation.
"The House took an important step forward today in advancing legislation that will make our supply chains stronger and reinvigorate the innovation engine of our economy to outcompete China and the rest of the world for decades to come," Biden said on Tuesday evening.
The legislation, named The America COMPETES Act of 2022, would attempt to ease supply chain bottlenecks on products like semiconductors and bring back manufacturing jobs to the United States, Biden said.
