US Senate Passes $280 Trillion 'China Containment Act' with Overwhelming Support

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[Asia Economy Reporter Yujin Cho] The U.S. Congress has passed a China containment bill worth up to $250 billion (approximately 280 trillion won).

On the 8th (local time), the U.S. Senate approved the "America COMPETES Act," which supports the development and production of key industrial technologies such as semiconductors and robotics, sectors fiercely competitive with China, with an overwhelming vote of 68 in favor and 32 against.

Only independent Senator Bernie Sanders voted against it, while 19 Republican senators joined Democrats in supporting the bill.

This bill combines various bills prepared by each standing committee, including the Strategic Competition Act drafted by the Senate Foreign Relations Committee. It encompasses measures to contain China through securing U.S. competitiveness amid intensifying military and economic competition with China.

Of the total $250 billion bill, $190 billion will be invested in technology development, and $54 billion is expected to be specifically allocated to semiconductors, microchips, and communication equipment.

It is considered highly unusual that Democrats and Republicans, who have been polarized on many issues to the extent that there were calls to abolish the filibuster within the Democratic Party, have united on this matter.

Major foreign media analyzed that this bipartisan sense of crisis demonstrates recognition of China as a strong competitor in all fields, including military, economy, and science and technology.

Supporters of the bill expect it to bring the largest investment ever in the field of science.

Democratic Senate Majority Leader Chuck Schumer, who introduced the bill, said, "The premise is simple. If we want American workers and companies to lead the world, the government must invest in science just like it did right after World War II."

He emphasized, "The one who wins the future technology competition will lead the global economy. This is directly related to diplomacy and national security."

The bill, having passed the Senate, will go through a House vote and is expected to be enacted upon President Joe Biden's signature.

This content was produced with the assistance of AI translation services.