U.S. President Joe Biden signed an executive order on Thursday reinforcing the implementation of the recently passed CHIPS and Science Act, which sets aside $280 billion to boost domestic semiconductor production and technology research. The bipartisan act, signed into law this month, is aimed in part at reducing the United States’ “dependence on critical technologies from China and other vulnerable or overly concentrated foreign supply chains,” according to the executive order. Although the move was met with some resistance in Congress, with Republicans worried that it would severely limit U.S. capabilities to spend elsewhere, the act was regarded as a...