The United States intends to invest tens of billions of dollars in the development of key sectors of the national industry, including the production of semiconductors in the country. US President Joe Biden signed a bill on Tuesday, August 9, to support semiconductor manufacturers, noting that with his help the United States can “win the economic competition of the 21st century”.

Congress approved this document in late July. Experts point out that passing such a law is especially important to Biden in terms of the midterm elections in November.

According to the document, 52.7 billion dollars should be allocated to the development of semiconductor production in the United States. The bill provides for reducing US dependence on foreign supplies and strengthening the country’s position in competition with China.

Semiconductor manufacturing in the USA

Shortly before the signing of the law by the country’s president, the American maker of computer equipment Micron announced its intention to invest US$ 40 billion in the production of semiconductors in the United States. The company indicated it would start production “in the second half of the current decade”, but did not specify where exactly the factories would be built.

For his part, Biden said that two more US companies – GlobalFoundries and Qualcomm – will jointly invest $4 billion in semiconductor production in the United States, not abroad.

Judging by the results of a poll by Reuters and the Ipsos Institute, public support for Biden in the United States rose to 40% this week, reaching the highest levels since early June. In May, the approval rating of Joe Biden’s activities as president of the United States among the country’s population was especially low: 36%.