President Joe Biden will open his trip to Asia with a focus on the U.S. tech sector.
Global computer chip sales totaled $151.7 billion during the first three months of this year, a 23% jump from the same period in 2021, according to the Semiconductor Industry Association. More than 75% of global chip production comes from Asia.
That's a possible vulnerability the U.S. hopes to protect against through more domestic production and government investment in the sector through a bill being negotiated in Congress. The risk of Chinese aggression against Taiwan could possibly cut off the flow of high-end computer chips that are needed in the U.S. for military gear as well as consumer goods. Similarly, the hermetic North Korea has been test-firing ballistic missiles amid a coronavirus outbreak, a possible risk to South Korea's manufacturing sector should the brinksmanship escalate. In terms of chip production, China leads the global pack with a 24% share, followed by Taiwan , South Korea and Japan . Only 10% of chips are made in the U.S., according to the Semiconductor Industry Association. Samsung announced the Texas-based plant in November of last year. It hopes to begin operations in the second half of 2024. The South Korean electronics giant chose the site based on a number of factors, including government incentives and the “readiness and stability” of local infrastructure. In addition to Samsung, Biden has also been highlighting in his recent speeches an announcement by the U.S. firm Intel to build a semiconductor plant near Columbus, Ohio.
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