The signing of the CHIPS and Science Act puts $100 million in an International Technology Security and Innovation Fund to support secure semiconductor supply chains and the development of secure telecommunications networks.
The historic domestic investment in critical technology areas will help strengthen efforts with key U.S. allies and partners, he said, according to an Aug. 9 news release.
“The President today signed the CHIPS and Science Act, which will strengthen our industries of the future, bolster our supply chains and protect our vital national and economic security,” Secretary of State Antony Blinken said in the release.
The act will move forward preparations to strengthen the regional supply chain diplomacy through the U.S.-EU Trade and Technology Council, the Indo-Pacific Economic Framework and the Americas Partnership for Economic Prosperity, he said, the release reported.
Blinken expressed his gratefulness to Congress for its vital partnership on the initiative. He said it will make the State Department more effective and the national more resilient and stronger in the face of the threats and opportunities ahead, according to the release.
“Additionally, the bill will help ensure America’s place as a global leader in science and technology. It is another demonstration that America can meet the moment,” Blinken said in the release.
