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

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27/09/2022 13:44

(Repeats to change slug)
    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 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,  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)
 ((daniel.leussink@thomsonreuters.com; Twitter:
@danielleussink;))