• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

After forcing workers back to the office, Goldman Sachs and JPMorgan Chase are now letting their staff work remotely—but only for the World Cup

2

The Pentagon said Iran War costs $29 billion, but the real cost is closer to $200 billion—and counting

3

Current price of oil as of June 23, 2026

1

After forcing workers back to the office, Goldman Sachs and JPMorgan Chase are now letting their staff work remotely—but only for the World Cup

2

The Pentagon said Iran War costs $29 billion, but the real cost is closer to $200 billion—and counting

3

Current price of oil as of June 23, 2026
PoliticsJoe Biden

Joe Biden says GOP risks ceding U.S. tech leadership to China: ‘I’ve got news for you and for MAGA Republicans in Congress: not on my watch’

By
Aamer Madhani
Aamer Madhani
and
The Associated Press
The Associated Press
Down Arrow Button Icon
By
Aamer Madhani
Aamer Madhani
and
The Associated Press
The Associated Press
Down Arrow Button Icon
March 28, 2023, 7:10 PM ET
President Joe Biden.
President Joe Biden. OLIVER CONTRERAS/AFP via Getty Images
Add Fortune on Google for similar content.

President Joe Biden said Tuesday that Republicans’ ideas for cutting the budget could undermine U.S. manufacturing and help China dominate the world economy.

Speaking at a semiconductor maker in North Carolina to highlight his own policies, Biden is trying to shape public sentiment as he faces off with House Speaker Kevin McCarthy, R-Calif., about whether the federal government should raise its legal borrowing capacity.

McCarthy sent a letter Tuesday saying that talks should start about possible spending cuts in return for the debt limit increase. Biden has said Republicans need to put forth their own budget plan before negotiations start. Without an agreement, the federal government could default on its financial obligations.

The president tried to ratchet up pressure on Tuesday by saying that the GOP demands on the budget would only empower China, the country’s key geopolitical rival. Being tough on China has been a core part of the identity of former President Donald Trump, who is seeking to return to the White House in 2024, and his Make America Great Again movement. The Democratic president said their objections to his policies would instead strengthen China.

“It would mean ceding the future of innovation and technology to China,” Biden told the crowd. “I’ve got news for you and for MAGA Republicans in Congress: not on my watch. We’re not going to let them undo all the progress we made.”

Biden’s trip to Wolfspeed follows the Durham-based company announcing plans last September to build a $5 billion manufacturing facility in Chatham County that is expected to create 1,800 new jobs. Biden had won passage last July of a $280 billion legislative package known as the CHIPS Act, which was intended to boost the U.S. semiconductor industry and scientific research.

It’s nothing new for the Biden administration to highlight the CHIPS Act, the $1.9 trillion COVID relief bill, the $1 trillion infrastructure legislation and a roughly $375 billion climate bill — major legislation that the Democratic administration steered into law before Democrats lost control of the House.

But now, just weeks after Biden unveiled his own budget — it includes $2.6 trillion in new spending — his administration is looking for chances to lean into its battle with Republicans over spending priorities and who has better ideas to steward the U.S. economy in the years to come. Republicans have rejected Biden’s budget but have yet to unveil their own counteroffer to the Democrats’ blueprint, which is built around tax increases on the wealthy and a vision statement of sorts for Biden’s yet-to-be-declared campaign for reelection in 2024.

His trip is part of a larger effort to draw attention to his policies, which have been overshadowed by high inflation.

Besides Biden’s visit to Wolfspeed, Vice President Kamala Harris, first lady Jill Biden and other senior administration officials will fan out to 20 states over the next three weeks to highlight the impact of Biden’s economic agenda, according to the White House.

Biden has said he intends to run for a second term but has yet to formally launch his reelection campaign.

His effort to highlight legislative victories could also give him an opportunity to present voters with images of an administration focused on governing as Trump braces for a possible indictment.

Trump is being investigated over payments during his 2016 campaign to two women who alleged affairs or sexual encounters with him. The ex-president denies being involved with either of the women — porn actor Stormy Daniels and model Karen McDougal.

Trump narrowly won North Carolina in 2020. Among the other states that Biden and administration officials will be visiting in the weeks ahead are Georgia, Michigan, Pennsylvania, Nevada and Wisconsin — crucial battlegrounds that Biden won in 2020 and states expected to be competitive again in 2024.

Subscribe to Well Adjusted, our newsletter full of simple strategies to work smarter and live better, from the Fortune Well team. Sign up today.
About the Authors
By Aamer Madhani
See full bioRight Arrow Button Icon
By The Associated Press
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Politics

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Politics

President Donald Trump pictured in September 2025 signing an executive order that overhauled the H-1B visa program.
EconomyImmigration
Trump’s international student crackdown kicked off a domino effect that could shave nearly $500 billion off the economy
By Tristan BoveJune 24, 2026
2 hours ago
Gaza reshaped New York’s Democratic primaries. Now the party has to figure out what that means.
PoliticsNew York
Gaza reshaped New York’s Democratic primaries. Now the party has to figure out what that means.
By The Associated Press, Steve Peoples and Jake OffenhartzJune 24, 2026
4 hours ago
A team of workers sort aluminum cans near large bales of plastics
LawCalifornia
17 red states sue California over ‘onerous’ recycling law: ‘California is not entitled to pronounce nationwide policies’
By The Associated PressJune 24, 2026
4 hours ago
Mamdani’s picks sweep New York City’s congressional primaries, ousting two incumbents
PoliticsNew York
Mamdani’s picks sweep New York City’s congressional primaries, ousting two incumbents
By The Associated PressJune 24, 2026
4 hours ago
Iran keeps contradicting Trump on whether it agreed to nuclear inspections, but he says there’s no rush anyway
Middle EastIran
Iran keeps contradicting Trump on whether it agreed to nuclear inspections, but he says there’s no rush anyway
By Munir Ahmed, David Rising, Jon Gambrell and The Associated PressJune 24, 2026
4 hours ago
t
PoliticsDonald Trump
Trump holds landmark affordable housing bill hostage over his pet issue: The ‘national emergency’ of voter ID
By Mary Clare Jalonick and The Associated PressJune 24, 2026
5 hours ago

Most Popular

After forcing workers back to the office, Goldman Sachs and JPMorgan Chase are now letting their staff work remotely—but only for the World Cup
Success
After forcing workers back to the office, Goldman Sachs and JPMorgan Chase are now letting their staff work remotely—but only for the World Cup
By Orianna Rosa RoyleJune 23, 2026
1 day ago
The Pentagon said Iran War costs $29 billion, but the real cost is closer to $200 billion—and counting
Economy
The Pentagon said Iran War costs $29 billion, but the real cost is closer to $200 billion—and counting
By Jacqueline MunisJune 24, 2026
13 hours ago
Current price of oil as of June 23, 2026
Personal Finance
Current price of oil as of June 23, 2026
By Joseph HostetlerJune 23, 2026
1 day ago
Current price of gold as of June 23, 2026
Personal Finance
Current price of gold as of June 23, 2026
By Danny BakstJune 23, 2026
1 day ago
Texas and Charlotte used to build huge McMansions—now they're copying the California design tricks they once mocked
Real Estate
Texas and Charlotte used to build huge McMansions—now they're copying the California design tricks they once mocked
By Sydney LakeJune 22, 2026
2 days ago
Markets tumble worldwide as Fed resets expectations: $400 billion wiped off SpaceX stock
Banking
Markets tumble worldwide as Fed resets expectations: $400 billion wiped off SpaceX stock
By Jim EdwardsJune 23, 2026
1 day ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.