President Joe Biden on Tuesday signed a sweeping bipartisan bill that aims to boost domestic manufacturing of computer chips and counter China's edge in that sector. The bill, which Congress approved at the end of July, includes roughly $52 billion in incentives for the semiconductor industry. Reducing the United States' reliance on chips produced in China has been a priority for Biden. He had urged Congress to take swift action to improve U.S. output of semiconductors, framing the issue as an economic and national security imperative. It will take time for consumers to feel the impact of the new government spending on computer chips manufacturing. As National Economic Council director Brian Deese said in July, financial incentives will affect "companies’ decision-making almost immediately" and hopefully cause them to expand their operations in the U.S. But he acknowledged: "This is a long-term project, a long-term national project that is of vital economic and national security consequence, and the ultimate impact of that will be felt over the course of years." 📸: Mandel Ngan for @afpphoto #biden #CHIPS #supplychain #china