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Tags: kamala harris | japan | semiconductor chips | biden administration | u.s. trade

US VP Harris to Meet With Japanese Chip Firms

US VP Harris to Meet With Japanese Chip Firms
Japan's Prime Minister Fumio Kishida, right, greets U.S. Vice President Kamala Harris on Sept. 26, 2022 at the Akasaka State Guest House in Tokyo. (Getty Images)

Tuesday, 27 September 2022 08:56 AM EDT

Vice President Kamala Harris will meet on Wednesday in Japan with heads of semiconductor-related businesses as the Biden administration works to boost U.S. chips manufacturing, according to a senior administration official.

Harris will talk to the executives about incentives now available to invest semiconductor manufacturing within the United States following the August enactment of a law providing $52.7 billion in subsidies for the industry.

She is also expected to tout the benefits of those companies moving manufacturing hubs away from a dependence on single, low-cost countries like China to prevent disruptions.

U.S. President Joe Biden has prioritized building high-tech chips in an effort to preserve high-paying American jobs and counter the rising market dominance of China, who he views as Washington's key strategic competitor.

The chips funding legislation was also designed to help to alleviate a persistent chips shortage that has prevented the manufacture and sale of everything from cars, weapons, washing machines and video games.

Those shortages have worsened U.S. consumer price inflation, which topped 8% on an annual basis in August.

Executives from at least 13 companies will attend, including Sanken Electric, Tokyo Electron, Hitachi High-Tech, Fujitsu and Nikon, according to another U.S. official who declined to be named previewing the meeting.

© 2022 Thomson/Reuters. All rights reserved.


StreetTalk
Vice President Kamala Harris will meet on Wednesday in Japan with heads of semiconductor-related businesses as the Biden administration works to boost U.S. chips manufacturing, according to a senior administration official.
kamala harris, japan, semiconductor chips, biden administration, u.s. trade
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2022-56-27
Tuesday, 27 September 2022 08:56 AM
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