2024-02-21 11:42:59
The administration of US President Joe Biden will allocate $1.5 billion to increase semiconductor production in the United States. This is stated in a statement by US Vice President Kamala Harris, released by the White House press service, Day.Az reports with reference to TASS.
As noted in the document, the US Department of Commerce has reached a preliminary agreement with the American company GlobalFoundries, which provides for the allocation of “approximately $1.5 billion to expand semiconductor production” in the country, “strengthen supply chains and create thousands of high-paying jobs.”
It is understood that the company will use the allocated funds to build a semiconductor production plant in the state of New York, as well as increase production at already operating enterprises in the states of New York and Vermont. “GlobalFoundries’ chips are critical to the development and production of automobiles and smartphones, and are also used in satellite and space communications essential to our national defense and security,” Harris said in a statement.
In 2022, Biden signed the Chips and Science Act, which provides a total of $52.7 billion to revive the American semiconductor industry and which should ensure the United States victory over China in the technology race.
On October 17, 2023, the US Department of Commerce announced the blacklisting of 13 Chinese companies and the expansion of export restrictions on the sale of semiconductors to China. These businesses are said to be “contrary to the national security and foreign policy interests of the United States.” In October 2022, the US announced several restrictions on the export of advanced semiconductor manufacturing equipment to China.