The reference News Network reported on May 20.U.S. Senate Majority Leader Chuck Schumer said the Senate will add $52 billion to a broader bill to strengthen domestic semiconductor manufacturing and improve the competitiveness of the United States against China, Bloomberg News reported on May 18.

According to reports, Schumer said on Tuesday that the move was "a historic direct injection of federal funds" aimed at rebuilding semiconductor manufacturing in the United States. Semiconductors are vital to the automotive, electronics and military industries.

According to the report, the National Defense Authorization Act in fiscal year 2021 approved the provision of funds to support the domestic semiconductor industry in the United States, but it did not actually provide the money. Adding this money to the relevant China-related bills will make up for this.

It is reported that the increase of relevant funds in this broader bill is the key to the passage of the bill. Schumer hopes to finish the bill by the end of this month. Us President Joe Biden also supported the bill.

It also includes funding for a communications security initiative aimed at countering China's dominance in 5G networks.