Senate passes the American Innovation and Competition Act

After much ado, the Senate on Tuesday passed a wide-ranging China-focused legislative package that includes a slew of trade provisions, such as the renewal of the Generalized System of Preferences and a new Miscellaneous Tariff Bill, as well as funding for domestic semiconductor manufacturing incentive programs with labor-wage provisions. The American Innovation and Competition Act passed 68-32. The bill is a compendium of legislation from a variety of Senate committees that is centered on the Endless Frontier Act, as reported...