President Joe Biden has signed the CHIPS and Science Act of 2022 into law. This will enable investment of $280 billion in domestic semiconductor manufacturing sector and science and technology innovation.
Creating Helpful Incentives to Produce Semiconductors (CHIPS) and Science Act, which will further boost U.S. manufacturing sector and global competitiveness, was approved by the Congress with bipartisan support, an indication of broader support for efforts to kick start domestic semiconductor production in the United States.
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Business News
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.