The American Steel Institute (AISI) commended the passing of the "America Competition Act" by the House of Representatives on February 4 for the support it provides for fair international trade and domestic semiconductor manufacturing.
AISI CEO Kevin Dempsey said the bill would strengthen U.S. trade tools to more quickly set barriers to repeat offenders who disrupt trade for cross-border industrial subsidies and speed up the completion of investigations into U.S. customs violations.
"As China and other export-oriented countries develop new ways to evade and circumvent U.S. trade protection orders, it is critical that our trade laws be updated to respond to these challenges," Dempsey said in a statement.
He also stated that the instruments in the bill would provide "a level playing field against foreign competitors who are trying to cheat the system."
The passage by the House of Representatives represents a continuation of Senate approval of the U.S. Innovation and Competition Act in 2021, which includes similar provisions on trade and investment. Both legislatures will now debate the differences in the two bills in the coming weeks before sending the final package to President Joe Biden for his signature.
U.S. Commerce Secretary Gina Raimondo said dual legislation passed by the House and Senate ensures that the U.S. can invest in manufacturing and technology that is "critical to our national and economic security."
The new act is also called the “chip law”, as its adoption is associated with an acute shortage of microprocessors in the automotive industry. The new law provides $52 billion in funding for U.S. semiconductor manufacturing growth and another $190 billion for domestic technology development to outpace China.
The European Commission at the end of last year also prepared a bill called the European Chips Act, which will reorganize the chip production system and avoid dependence on suppliers from the United States and Southeast Asia. To achieve these goals, it is planned to organize the European Semiconductor Foundation.