Joe Biden signs law to restart US semiconductor production
President Joe Biden has assured that this law will help his country win "economic competition in the 21st century".
© BusinessWire
Text by: RFI Follow
2 mins
US President Joe Biden signed a law on Tuesday that releases $ 52 billion in subsidies to revive the production of semiconductors in the United States.
Advertising
Read more
The passage of this law represents for Joe Biden a victory after a long-term fight and good news as the mid-term elections approach.
The law "
amplifies our efforts to manufacture semiconductors here in America
," the US president said, praising the entrepreneurs who are the reason for his "
optimism
" about the country's future.
The text, adopted at the end of July by Congress, plans to release 52 billion dollars in subsidies to revive the production of
semiconductors
in the United States and tens of billions more for research and development.
This investment plan "
will lower the costs of daily living, create well-paying industrial jobs in the country and strengthen the leadership position of the United States in the industry of the future
", had commented the president in a press release after voting in Congress.
50 billion investment
According to the White House, this commitment to supporting the high-tech industry is already attracting private funds, with some $50 billion invested in semiconductors.
Micron Technology notably announced on Tuesday a plan of 40 billion dollars in the United States.
This investment will be partly financed by subsidies and tax credits provided for by law.
“
This legislation will allow Micron to grow domestic memory production from less than 2% to 10% of the global market over the next decade, making the United States the home of memory manufacturing and research and development. most advanced in the world
," Micron CEO Sanjay Mehrotra said in the statement.
The group claims "
the largest investment in chip manufacturing in US history
", with the eventual creation of "
up to 40,000 new American jobs
".
“
Two other companies, GlobalFoundries and Qualcomm, announced a four billion dollar partnership on Monday to produce chips in the United States that would otherwise have gone overseas
,” said Joe Biden.
Demand for semiconductors has exploded during the pandemic, causing global shortages further exacerbated by the closure of Chinese factories in the face of resurgences of Covid-19.
The United States, whose share in world production has fallen sharply in recent years to the benefit of Asia, has suffered from these shortages.
This notably
slowed the production of new cars
last year, driving up prices in the automobile industry.
But it has also had an impact on computers, smartphones and vacuum cleaners, of which semiconductors are essential components.
►
To read also:
Taiwan: the number one in semiconductors warns China which threatens the island
(
With
AFP)
Newsletter
Receive all the international news directly in your mailbox
I subscribe
Follow all the international news by downloading the RFI application
google-play-badge_EN
United States
Joe Biden
Industry
New technologies