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Haley opposes major computer chips bill: ‘We don’t need to be China to beat China’


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FIRST ON FOX: Former UN Ambassador Nikki Haley opposed a major bipartisan bill aimed at boosting the US semiconductor industry, arguing that the way to beat China is through innovation — and not through “corporate handouts .”

“You don’t have to be China to beat China,” Haley said in a statement to Fox News Digital.

The bill, aimed at boosting the U.S. semiconductor industry to give the U.S. a competitive edge with China, cleared a Senate vote this week with 16 Republican votes.

The bill includes $52 billion in funding for the semiconductor industry, but has grown to include provisions that include research, intellectual property and other competition-related provisions — meaning the price tag could exceed $200 billion.

REPUBLICANS FLOOD MAJOR CHINA BILL AS LEGISLATION BARRELS TO PASSAGE

While supporters of the legislation tout the importance of national security to compete with China — especially in the area of ​​computer chips, where the world is suffering major supply chain issues — it raises concerns about inflation and corporation. benefit.

There are widespread concerns about China's competition with the US

There are widespread concerns about China’s competition with the US
(Bikash Dware/The Rising Nepal via AP))

Haley, a prominent China hawk, is not convinced that onerous legislation is the way to compete with Beijing.

“The way to encourage innovation and strengthen our national security is not through corporate handouts,” the former South Carolina governor said. “As Americans suffer the worst inflation in 40 years, this law does not ensure that our best asset—our innovation—is not diverted to aid Communist China. That is a bad deal for the American people.”

Haley’s concerns about inflation, corporate welfare and a potential benefit to China, are shared by some Republicans in the Senate. Senator Rick Scott, R-Fla., told Fox Business on Wednesday that it would give corporations like Intel tax breaks, tax credits and money to build a plant.

“And guess what? They can continue to do business in China,” he said. “If China invades Taiwan they can continue to do business as they are now with China. Sounds like a pro-China bill, not an anti-China bill to me.”

SEMICONDUCTOR CHIP BILL ABOUT CONGRESS’ ‘FLURY OF BIPARTISAN ACTIVITY’: AXIOS REPORTER

The Biden administration, meanwhile, is pushing hard for passage of the bill. Commerce Secretary Gina Raimondo recently said the issue is a “serious national security threat.”

“If you don’t do it by August 4 there will be irreversible damage to the economy of the United States and to the military operations of the United States. So you have to do it now,” he told Reuters.

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The timetable for the bill to pass the Senate remains unclear, though it is possible that the bill will pass this week or next week. A GOP Senate aide told Fox News it’s not entirely clear what provisions the final version of the bill will contain.

Fox News’ Tyler Olson contributed to this report.



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