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US-China tensions

US Congress pushes $100bn research blitz to outcompete China

Beijing's challenge drives Washington to take greater hand in industrial policy

The global semiconductor crunch provides a catalyst aiding U.S. Senate Majority Leader Chuck Schumer as he pushes legislation allocating $100 billion to outcompete China in critical technology.   © Reuters

NEW YORK -- Fresh from injecting $1.9 trillion into the U.S. economy, Capitol Hill already envisions another big spending plan -- this time to gain the upper hand in the tech race against China.

Senate Majority Leader Chuck Schumer looks to fast-track the Endless Frontier Act, a bipartisan bill that would authorize $100 billion over five years to fund research in cutting-edge fields amid the U.S. rivalry with China.

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