A bipartisan bill was introduced directing the U.S. government to adopt a policy of “strategic competition” with China to “protect and promote our vital interests and values.” The 283-page bill crafted by the Senate Foreign Relations Committee is part of a push by Majority Leader Chuck Schumer, D-N.Y., to vote this spring on a broad, bipartisan package designed to confront China's economic and geopolitical power.
The measure seeks infrastructure investment and technology developments to compete with China on global supply chains, science and technology. Besides the legislation introduced yesterday, the centerpiece of Schumer's broader plan is the Endless Frontier Act, a bill to boost U.S. semiconductor development.
The Senate Commerce Committee will hold a hearing on that proposal on April 14. The Foreign Relations panel is scheduled to act on its bill the same day.