US President Joe Biden to sign order on $52 billion chips law implementation

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.