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Biden signs law to restart US semiconductor production

2022-08-09T16:44:29.402Z

This vast investment plan of 52 billion dollars must allow the United States to be less dependent on China and more competitive on a global scale.



US President Joe Biden on Tuesday signed legislation that releases $52.7 billion in subsidies to restart production of semiconductors in the United States.

The Democrat assured that this investment in these parts at the heart of modern electronics would help his country win “

the economic competition in the 21st century

”.

The text, adopted in late July by Congress, also provides tens of billions of dollars for research and development.

The passage of this law represents for Joe Biden a victory snatched after a long-term fight and good news as the mid-term elections approach.

The United States wants to regain world leadership in the automotive industry

This law "

will reduce the costs of daily living, create well-paid industrial jobs in the country and strengthen the leadership position of the United States in the industry of the future

", he had commented after the vote in Congress.

Demand for semiconductors has exploded during the pandemic, causing global shortages further exacerbated by the closure of Chinese factories in the face of Covid resurgences.

Read alsoThe shortage of semiconductors is hurting the global automotive industry

The United States, whose share in world production has fallen sharply in recent years to the benefit of Asia, has suffered from these shortages.

This notably slowed the production of new cars last year, driving up prices in the automobile industry.

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Source: lefigaro

All news articles on 2022-08-09

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