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U.S. lawmakers are trying a completely new tactic in the US-China tech war: a subsidy policy for private industry. The CHIPS for America Act proposed to congress last week would allocate billions of dollars to help fund the construction of new semiconductor manufacturing factories in the U.S. The shifting consensus on Capital Hill in support of such a move is game-changing in itself.

Related ETF: iShares PHLX Semiconductor ETF (SOXX)

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