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U.S. VP Harris to meet with Japanese chip firms -official

09/27/2022 | 08:47am EST
U.S. Vice President Harris visits Japan

TOKYO (Reuters) - 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 prioritised 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.

(Reporting by Trevor Hunnicutt; Additional reporting by Daniel Leussink; Editing by Louise Heavens)

By Trevor Hunnicutt


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
ADVANTEST CORPORATION 0.21% 9550 Delayed Quote.-12.39%
FUJIBO HOLDINGS, INC. -2.19% 3350 Delayed Quote.-18.39%
FUJITSU LIMITED -0.51% 18590 Delayed Quote.-5.78%
LASERTEC CORPORATION 1.00% 26715 Delayed Quote.-24.30%
MICRON TECHNOLOGY, INC. -1.46% 54.68 Delayed Quote.-41.30%
NIKON CORPORATION -2.20% 1290 Delayed Quote.4.03%
SANKEN ELECTRIC CO., LTD. -2.08% 6590 Delayed Quote.4.44%
SHIN-ETSU CHEMICAL CO., LTD -1.88% 17515 Delayed Quote.-12.07%
SHINKO ELECTRIC INDUSTRIES CO., LTD. -0.25% 3955 Delayed Quote.-27.96%
SHOWA DENKO KK -2.16% 2177 Delayed Quote.-9.86%
TOKYO ELECTRON LTD. -0.34% 46740 Delayed Quote.-29.48%
TOYO GOSEI CO.,LTD. -0.62% 9600 Delayed Quote.-38.58%
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