Statement By Ambassador Katherine Tai Following Congressional Passage of the CHIPS and Science Act of 2022

July 28, 2022

“The CHIPS and Science Act is a huge achievement that will enhance America’s manufacturing capabilities, while safeguarding our economic and national security interests.  It will spur development of critical, innovative technology, create good-paying jobs, lower costs for consumers, and provide certainty for the U.S. semiconductor industry, which is key to maintaining our global competitive edge.

“The pandemic exposed serious vulnerabilities in our supply chains, particularly our dependence on certain regions for essential materials.  This legislation puts our country in a stronger position to withstand future economic shocks and avoid major disruptions in the day-to-day lives of the American people.

“President Biden’s bold plan to grow the economy from the bottom up and the middle out has driven a historic jobs recovery.  Along with the Bipartisan Infrastructure Law, the CHIPS Act will make the United States a better place for businesses to thrive. We must continue to make long-term investments that increase our competitiveness and create inclusive economic prosperity for our workers in the 21st century.

“I congratulate the President and leaders from both parties for developing and passing this important bill.  I look forward to working with my colleagues across the Biden Administration and in Congress to incorporate these investments into our trade agenda.”