Biden signs a semi-conduct bill, a bid to add Finland and Sweden to NATO
In a pair of signing ceremonies in the afternoon, President Joe Biden approved a bill to boost American semiconductor manufacturing and a resolution ratifying the applications of Finland and Sweden to join the Western military alliance.
WASHINGTON (CN) – Capping off an eventful month in Congress, President Joe Biden gave his signature of approval Tuesday afternoon to legislation aimed at boosting domestic semiconductor manufacturing and documents supporting Finland and Sweden’s accession to NATO.
Biden signed the $280 billion Chips and Science Act into law early Tuesday in front of a crowd of lawmakers and staff, who heralded the bipartisan legislation as key to solving supply chain problems, bolstering American electronic chip manufacturing and countering China’s dominance of the manufacturing market.
Biden called the legislation a “once in a generation investment in America itself” and recalled how the Covid-19 pandemic triggered an international shortage of the tiny electronic circuits used in everything from cars and cellphones to military weapons.
“When factories that make these chips close, the global economy grinds to a screeching halt, driving up costs for families and everyone, not just here, but around the world,” the president said before signing the bill into law. “Folks, we need to make these chips here in America, bring down everyday costs and create jobs.”
Congress passed the semiconductor research funding bill and distributed $52 billion in grants to American manufacturing in late July.
“China is trying to go way ahead of us in making these sophisticated chips as well,” Biden said. “The United States must lead the world in the production of these advanced chips. This law will do exactly that.”
The semiconductor chip was invented in the United States, but the American share of semiconductor manufacturing has declined in recent decades and other countries such as China and Taiwan take up the majority of the modern microchip market.
“Last century, American prosperity was anchored on our unparalleled commitment to scientific research and innovation. The question America faces today is whether that prosperity will live on in the coming century. Today, by passing the Chips and Science Act, the largest investment “As we manufacture science and innovation for decades, we say America’s best years are still ahead,” Senate Majority Leader Chuck Schumer said at the signing of the bill.
Idaho-based manufacturer Micron Technology announced Tuesday that it plans to invest $40 billion in domestic semiconductor production thanks to the legislation. Biden said Micron estimates the project will create 40,000 U.S. jobs
The Chips and Science Act was just one of a flurry of bills making their way through Congress in recent weeks before lawmakers hit the road for the August recess.
Before heading out of Washington, Congress passed bipartisan gun legislation, a bill to help veterans affected by toxic exposure, and the Senate both voted to pass a sweeping climate change bill and agreed to ratify Sweden and Finland’s accession to NATO.
“What a six weeks it’s been for the Senate,” Schumer said.
Late Tuesday afternoon, Biden held a second singing ceremony to officially endorse and sign Sweden’s and Finland’s applications to join NATO.
“It’s a watershed. I believe in the alliance and for the greater security stability, not just for Europe and the United States, but for the world,” Biden said during a speech at the White House.
The two Nordic nations have long avoided joining the alliance, instead advocating strategies of non-alignment with other foreign nations. But in May, the two countries formally applied for membership and NATO invited them to join the alliance as early as June, a significant geopolitical shift for global politics.
Last week, the Senate voted 95-1, with Republican Sen. Josh Hawley of Missouri as the lone dissenting vote, to bring the two countries into NATO.
The US ratification of Finland and Sweden’s membership comes almost six months after Russia invaded Ukraine and launched a brutal assault on the former Soviet nation, changing the previous geopolitical climate.
“Putin thought he could tear us apart. When all this started, he thought he could tear us apart, in my view, weaken our resolve. Instead, he’s getting exactly what he didn’t want. He wanted Finnish NATO. He’s getting the NATOization of Finland, together with Sweden,” Biden said.
Legislatures in all 30 NATO member nations must ratify Finland’s and Sweden’s membership bids before they can join the Western alliance. The United States is the 23rd member nation to approve its membership.
“Together with our allies and partners, we will write the future we want to see. The future we want to see. And at a moment when Putin’s Russia has shattered peace and security in Europe, when autocrats are challenging the very foundation. of a rules-based order, the strength of the transatlantic alliance, America’s commitment to NATO is more important than ever, Biden said.
He added, “Our alliance is closer than ever. It is more united than ever and, as Finland and Sweden raise the number of allies to 32, it will be stronger than ever.”
Read top 8
Sign up for Top 8, a roundup of the day’s best stories delivered straight to your inbox Monday through Friday.