The U.S. announced new sanctions on Iran’s oil and petrochemicals sectors in response to the country’s Oct. 1 ballistic-missile attack on Israel.

The U.S. needs to dominate the next generation of the technology, a bipartisan group of lawmakers said after meeting the chief executives of Ford Motor Co. and General Motors Co. in Detroit.

A $52 billion boost to the U.S. domestic semiconductor industry moved one step closer to reality July 26 when the Senate advanced legislation providing grants, incentives and tax breaks to the sector and set it up for final passage this week.

The chief executives of some of the largest U.S. chip manufacturing companies urged Congress to pass legislation that includes $52 billion in incentives for their industry, calling it “essential” to maintaining competitiveness with China and other countries.

A bipartisan push to make the U.S. more competitive with China and bolster domestic chip production risks falling by the wayside as Congress grapples with a packed year-end agenda in an ever-more-divided Capitol.

Three Democratic senators are asking the Taiwanese government to help the U.S. with a chip shortage that has idled auto plants and sent workers packing throughout the industry as the global economy struggles to recover from the COVID-19 pandemic.

The Senate will include $52 billion to bolster domestic semiconductor manufacturing in a broader bill to enhance U.S. competitiveness with China, Senate Majority Leader Chuck Schumer said.

President-elect Joe Biden isn’t likely to quickly unwind the tariffs President Donald Trump has imposed on Chinese imports, said Delaware Senator Chris Coons, a close ally of the incoming leader.

Forget Uber, Waymo and Tesla: The next big name in self-driving vehicles could be the Pentagon.

Americans last week started feeling much more confident about the economy, pushing the Bloomberg News Consumer Comfort Index to a seven-week high and partly reversing an early-summer slump, figures released Aug. 3 showed.