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

By Trevor Hunnicutt

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 (OTC:) High-Tech, Fujitsu and Nikon (OTC:), according to another U.S. official who declined to be named previewing the meeting.