The House passed the America COMPETES Act of 2022, which aims to help solve some of the economic issues the U.S. is facing and to counter China's rising power by evening the playing field for American businesses. The America COMPETES Act would address supply chain disruptions, the global shortage of semiconductor chips, invest in American technology along with science and research, boost American manufacturing of goods critical for national security and the U.S. economy (such as public health products and communications products), and help with the solar manufacturing supply chain. In addition to this regarding trade policies, it would reauthorize the tariff relief programs, the Miscellaneous Tariff Bill program and the Generalized System of Preferences, renew the Trade Adjustment Assistance, and empower the U.S. Trade Representative to review and block U.S. companies from manufacturing abroad if the product is critical. However, the bill passed in the House on party lines and the bill was passed a year ago in the Senate, but the Senate version was not the same as the House version that was just passed. But overall, they do expect the bill to pass and be signed into law after reconciliation between the House and Senate.
By: Madelyn Milowski
https://www.cnn.com/2022/02/04/politics/house-china-competition-bill-vote/index.html
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