Biden signs $280 billion CHIPS act in bid to boost US over China

President Joe Biden signed a $280 billion bipartisan bill to boost domestic high-tech manufacturing, part of his administration's push to boost US competitiveness over China.Flanked by scores of lawmakers, union officials, local politicians and business leaders, Biden feted the legislation, a core part of his economic agenda that will incentivise investments in the American semiconductor industry in an effort to ease US reliance on overseas supply chains for critical, cutting-edge goods.