One Day Before Signing the Semiconductor Support Act... US Government Meets with Heads of Semiconductor and Automobile Companies

President Joe Biden [Photo by AP News]

[Asia Economy Reporter Jeong Hyunjin] On the 8th (local time), a day before U.S. President Joe Biden is set to sign the Semiconductor Support Act, which has passed through Congress, senior U.S. government officials met with leaders of U.S. semiconductor and automobile companies.

According to major foreign media, Biden administration officials, including Brian Deese, Chair of the White House National Economic Council (NEC), met with CEOs of semiconductor companies GlobalFoundries and Applied Materials, as well as automobile companies Ford and General Motors (GM). The meeting was also attended by Tarun Chhabra, Senior Director for Technology and National Security at the U.S. National Security Council (NSC), and William LaPlante, Deputy Under Secretary of Defense for Acquisition, among others.

Thomas Caulfield, CEO of GlobalFoundries, evaluated the Semiconductor Support Act by saying, "It protects the U.S. economy, supply chains, and national security by accelerating semiconductor production on American soil." Jim Farley, CEO of Ford, stated, "A reliable domestic semiconductor supply chain, including legacy semiconductors needed by the automotive and military sectors, will enable robust U.S. manufacturing."

Attendees conveyed that the meeting was an opportunity for government officials and companies to explore how investments through the Semiconductor Support Act and related measures can accelerate production utilizing semiconductors and new technologies, thereby strengthening the U.S. economy, supply chains, and national security.

President Biden is scheduled to sign the Semiconductor Support Act, which passed both the U.S. House and Senate last month, on the 9th. The law, designed to counter China and strengthen semiconductor supply chains, centers on providing a total of $52 billion (approximately 68 trillion KRW) in support for semiconductor companies building manufacturing plants and research and development (R&D) centers in the United States.

This content was produced with the assistance of AI translation services.