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Visiting its facilities in New York, the President of the United States, Joe Biden, applauded the investment announcement by the technology multinational International Business Machines Corporation (IBM) for the manufacture of semiconductors in the country. According to the president, if the US becomes the leader in chip production, there would be more employment for citizens and a greater supply of world demand from the West.
Joe Biden wants to be a leader in global chip manufacturing and enter the market competitive against Asian supply. This Thursday, October 6, the tenant of the White House visited the New York headquarters of the renowned American multinational company, International Business Machines Corporation (IBM), to express, as several members of his cabinet have done, his objectives in the industry. of chips for the next few years.
“The United States has to lead the world in producing these advanced chips. This law will make sure that it does. And to be clear, the chip and science law is not handing out white checks to companies,” he said in front of the cameras.
At the event, Biden applauded IBM’s investment plan for semiconductor manufacturing, artificial intelligence and quantum computing. An announcement that came on the heels of chipmaker ‘Micron’ announcing its intention to invest up to $100 billion in the semiconductor industry over the next 20 years.
“Those chips that store information in your smartphone, among other things, will create 50,000 jobs and will generate an increase in the United States’ share of memory chips, generating an increase of 500%. That would be the largest American investment of its kind ever, ever, ever,” Biden said during the event in New York.
Manufacturing leaders like the folks at IBM are making decisions right now about where to invest in advanced manufacturing.
And they are choosing America because they see we’re coming back and leading the way. pic.twitter.com/IqojEvZsiB
— President Biden (@POTUS) October 6, 2022
Senior US officials have also prepared the lobby of the technology sector when they have visited some Asian countries, as was the case with House Speaker Nancy Pelosi in Taiwan and that of Vice President Kamala Harris’s recent visit to Japan.
To be the number one semiconductor manufacturer
The United States is the largest economy in the world, but it is on the Asian continent where the small parts crucial to the operation of almost all the technological devices in use today are manufactured the most.
Taiwan is the leading exporter of semiconductors globally, and currently, the Taiwanese company ‘TSMC’ takes the title of the largest manufacturer, where they make everything from high-quality chips for the aerospace industry to mass-produced products for the electronic control of automobiles or refrigerators.
Even China, in constant tension with Taiwan, has on several occasions been cautious with its political and military decisions because Taipei is its main supplier of chips.
When Nancy Pelosi visited the island, despite China’s warnings not to do so, Beijing’s retaliation was only directed at food and other essential goods leaving Taiwan. The sanctions were not directed towards bilateral agreements related to semiconductors.
According to Biden, recent investments in chip manufacturing will see “companies partner with unions, community colleges, technical schools and offer training and apprenticeships. We will make sure that small businesses and minority-owned businesses participate. We will make sure that the companies taking these taxpayer dollars don’t turn around and make investments in China, investments that undermine our supply chain and national security.”
On August 9, Biden signed the “Chips and Science” law that freed up $52.7 billion in subsidies for semiconductor production. An unusual bill for which the president was able to obtain bipartisan support and which has been one of his flagship projects that he has defended on national podiums.
With AP, Reuters and local media.
