The America COMPETES Act aims to increase US competitiveness with China and boost US semiconductor manufacturing. Now comes the difficult task of reconciling with the Senate version.

Friday was a day of strong geopolitical rhetoric by Asia's biggest authoritarian states, whose leaders met in Beijing and condemned the United States and its allies, while vowing to support each other

News of the deal came as the US asked Japan if it could divert some of its LNG imports to Europe in the event of a crisis in Ukraine

Western countries say invasion of Ukraine would result in sanctions and Washington officials say they are ready to impose financial penalties and export-control measures

Ahead of a visit to Beijing, he said there were "substantial" financial, industrial, technological and human resource opportunities for Russia and China

China pledged to increase purchases of US farm and manufactured goods, energy and services but had met only about 60% of that goal

Two US senators sent a letter to US Commerce Secretary Gina Raimondo complaining her department is hampering efforts to restrict exports to China chip maker SMIC.

The AFL-CIO, which represents 12.5 million workers, said in a letter to lawmakers the bill's $52 billion for chips is critical to "addressing the current chip shortage"

Beijing also set the quota for smelting and separation, the ministries of Industry and Information Technology and Natural Resources said

China reported 34 Covid-19 cases connected to the Games and Canada said five members of its 246-strong delegation have tested positive

The bill authorises $45 billion to support supply-chain resilience and manufacturing of critical goods, industrial equipment, and manufacturing technology

Jim Umpleby, chief executive, said the machinery company's revenues would have been higher had it not faced supply chain problems