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

Lasertec

27/09/2022 13:27

(Adds names of companies, background on chips shortage)
    By Trevor Hunnicutt
       TOKYO, Sept 27 (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 investors in 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.
  
        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 legislation was also designed to help 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  6707.T , Tokyo Electron  8035.T ,
Hitachi High-Tech, Fujitsu  6702.T  and Nikon  7731.T ,
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 and Mark Porter)
 ((daniel.leussink@thomsonreuters.com; Twitter:
@danielleussink;))