Ford recently declared that it could lose one-half of its complete output in Q2 as it continues to slash production each week. The proposed chip production deal calls for $49.5 billion in spending to “encourage the rapid implementation of the semiconductor provisions” that is part of a $120 billion bill covering a broad range of technology-related competitive problems the U.S. faces against China. Several automakers, such as Ford, have called for improved domestic chip production in recent months as experts predict automakers stand to lose $110 billion in 2021.

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