North American Three Countries Cooperate to Strengthen Semiconductor and Other Supply Chains

[Asia Economy Reporter Kwon Haeyoung] The three North American countries?the United States, Mexico, and Canada?held the North American Leaders' Summit on the 10th (local time) and agreed to strengthen economic cooperation to enhance supply chains, including semiconductors.

U.S. President Joe Biden, Mexican President Andr?s Manuel L?pez Obrador, and Canadian Prime Minister Justin Trudeau reached this agreement at the 10th North American Leaders' Summit held in Mexico City.

First, they agreed to expand semiconductor production within the North American continent. Based on the U.S. "CHIPS and Science Act" (Semiconductor Act), they will actively introduce incentives to promote investment in semiconductor clusters near the U.S.-Mexico border and plan to hold a semiconductor forum early this year. The White House explained that this forum aims "to cover all sectors that require semiconductors, such as electronics, automobiles, and military supplies, and to expand manufacturing and investment opportunities for related components."

As supply chain instability intensified after COVID-19, the U.S. has identified four core items to strengthen supply chains: semiconductors, electric vehicle batteries, rare minerals, and pharmaceuticals, and is seeking ways to improve productivity. This strategy also aims to simultaneously check China's semiconductor technological advancement and influence in Latin America.

President Biden emphasized on the day, "North American countries need to strengthen supply chains to counter Asia," adding, "We must ensure that no one can arbitrarily hold us back."

Regarding the issue of illegal immigration in Latin America, they agreed to create an online virtual platform to provide related information so that immigrants can easily access legal channels. The goal is to suppress the activities of criminal organizations involved in smuggling and reduce the flow of illegal immigration.

Additionally, they set a goal to reduce methane emissions from solid waste and wastewater to respond to climate change.

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