The U.S. Senate voted 68-32 on Tuesday to approve a sweeping package of legislation intended to boost the country's ability to compete with Chinese technology.
China's parliament expressed"strong indignation and resolute opposition" to the bill. It said in a statement that the U.S. bill showed"paranoid delusion of wanting to be the only winner" and had distorted the original spirit of innovation and competition. Senate Majority Leader Chuck Schumer, a co-sponsor of the measure, warned of the dire consequences of not funding research to keep up with China.
Many U.S. companies praised the bill. General Motors Co said the legislation"represents an important step to address the semiconductor shortage that continues to impact U.S. automotive manufacturing."
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