Biden to sign order on $52B chips law implementation | The Business Standard
Skip to main content
  • Home
  • Economy
    • Aviation
    • Banking
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
    • Book Review
    • Brands
    • Earth
    • Explorer
    • Food
    • Habitat
    • In Focus
    • Luxury
    • Mode
    • Panorama
    • Pursuit
    • Wheels
  • Epaper
    • GOVT. Ad
  • More
    • Subscribe
    • Videos
    • TBS Graduates
    • Thoughts
    • Splash
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • COVID-19
    • Long Read
    • Interviews
    • Offbeat
    • Tech
    • Magazine
  • বাংলা
The Business Standard

Thursday
November 30, 2023

Sign In
Subscribe
  • Home
  • Economy
    • Aviation
    • Banking
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
    • Book Review
    • Brands
    • Earth
    • Explorer
    • Food
    • Habitat
    • In Focus
    • Luxury
    • Mode
    • Panorama
    • Pursuit
    • Wheels
  • Epaper
    • GOVT. Ad
  • More
    • Subscribe
    • Videos
    • TBS Graduates
    • Thoughts
    • Splash
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • COVID-19
    • Long Read
    • Interviews
    • Offbeat
    • Tech
    • Magazine
  • বাংলা
THURSDAY, NOVEMBER 30, 2023
Biden to sign order on $52B chips law implementation

USA

Reuters
25 August, 2022, 07:35 pm
Last modified: 25 August, 2022, 07:36 pm

Related News

  • After 50 years, US to return to Moon on January 25
  • Indian govt official directed plot to assassinate Sikh activist in New York, says US
  • Walmart shifts to India from China for cheaper imports
  • Walmart shifts to India from China for cheaper imports
  • US military aircraft crashes in sea off Japan killing at least one

Biden to sign order on $52B chips law implementation

Reuters
25 August, 2022, 07:35 pm
Last modified: 25 August, 2022, 07:36 pm
U.S. President Joe Biden delivers remarks and signs documents endorsing Finland's and Sweden's accession to NATO, in the East Room of the White House, in Washington, U.S., August 9, 2022. REUTERS/Evelyn Hockstein/File Photo
U.S. President Joe Biden delivers remarks and signs documents endorsing Finland's and Sweden's accession to NATO, in the East Room of the White House, in Washington, U.S., August 9, 2022. REUTERS/Evelyn Hockstein/File Photo

President Joe Biden on Thursday will sign an executive order on implementation of the $52.7 billion semiconductor chips manufacturing subsidy and research law, the White House said.

Earlier this month, Biden signed the bill to boost efforts to make the United States more competitive with China's science and technology efforts. The law aims to alleviate a persistent shortage that has affected everything from cars and weapons to washing machines and video games by subsidizing U.S. chip manufacturing and expanding research funding.

Biden's order sets six primary priorities to guide implementation and establishes a 16-member interagency CHIPS implementation council to be co-chaired by National Economic Director Brian Deese, National Security Advisor Jake Sullivan, and Acting Office of Science and Technology Policy Director Alondra Nelson. The council will include the secretaries of Defense, State, Commerce, Treasury, Labor and Energy.

The Business Standard Google News Keep updated, follow The Business Standard's Google news channel

The White House also said the Commerce Department launched CHIPS.gov, which will make funding awards for chips production.

The department "is committed to deploying funding as swiftly as possible, while also ensuring the time needed to perform necessary due diligence," the White House said.

It is still not clear when the Commerce Department will formally make available semiconductor chips funding for prospective applications or how long it will take to make awards.

The White House said the chips program "will include rigorous review of applications along with robust compliance and accountability requirements to ensure taxpayer funds are protected and spent wisely."

     

World+Biz

USA / Semiconductor / Semiconductor crisis / semiconductors

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • BNP Vice Chairman Shahjahan Omar. Photo: UNB
    Shahjahan Omar walks out of jail, leaves BNP, submits nomination for Jhalakathi-1 as AL candidate
  • File Photo of Prime Minister Sheikh Hasina
    JS polls: 7 candidates set to compete against PM Hasina for Gopalganj-3 seat
  • US Ambassador to Bangladesh Peter Haas holds meeting with Foreign Secretary Masud Bin Momen at State Guesthouse Padma on 30 November 2023. Photo: Courtesy
    Ambassador Haas, Foreign Secretary Masud discussed ongoing developments: US Embassy

MOST VIEWED

  • TBS file photo
    Over 50 lakh Bangladeshis living abroad: Census
  • Despite some positives like, changes in wordings the major things workers demand have not been reflected in the amendments. Photo: TBS
    Bangladesh could be target of US labour policy, warns Washington mission
  • Taka appreciated officially, market reacts quite opposite
    Taka appreciated officially, market reacts quite opposite
  • Mominul Islam. File Photo: Courtesy
    IPDC CEO Mominul to step down after 4 terms
  • Only approved appraisers to assess loan collateral: Cenbank 
    Only approved appraisers to assess loan collateral: Cenbank 
  • File Photo: Reuters
    Reserves now at $19.52 billion: Bangladesh Bank

Related News

  • After 50 years, US to return to Moon on January 25
  • Indian govt official directed plot to assassinate Sikh activist in New York, says US
  • Walmart shifts to India from China for cheaper imports
  • Walmart shifts to India from China for cheaper imports
  • US military aircraft crashes in sea off Japan killing at least one

Features

Photo: Nayem Ali

Falling into brown

3h | Features
Illustartion:TBS

Low tax-GDP ratio: Reluctant taxpayers, faulty structure

10h | Panorama
Illustration: TBS

I am afraid even to post a thank you note on Facebook: Khadija

10h | Panorama
Sketch: TBS

Towards a brighter tomorrow: India's G20 presidency and the dawn of a new multilateralism

10h | Panorama

More Videos from TBS

The maximum interest rate for NBFI loans is 13.18%

The maximum interest rate for NBFI loans is 13.18%

51m | TBS Economy
Loan disbursements through agent banking rise 60%

Loan disbursements through agent banking rise 60%

3h | TBS Economy
First transatlantic flight using 100% green fuels to take off

First transatlantic flight using 100% green fuels to take off

7h | TBS Stories
Are geopolitical instability and  election behind the economic crisis?

Are geopolitical instability and election behind the economic crisis?

7h | TBS Economy
EMAIL US
contact@tbsnews.net
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Privacy Policy
  • Comment Policy
Copyright © 2023
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - oped.tbs@gmail.com

For advertisement- sales@tbsnews.net