U.S. commerce secretary presses lawmakers to greenlight $52 bln for chipmaking ...Middle East

U.S. Commerce Department Secretary Gina Raimondo on Monday stepped up pressure on Congress to approve $52 billion in funding for chipmakers to expand operations, warning that firms would abandon American expansion plans without the legislation. "Mark my words ... if Labor Day comes and goes and this Chips Act isn't passed by Congress, these companies will not wait and they will expand in other countries," she warned in an interview on CNBC.

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