The president said passage of a China competition bill was needed “for the sake of our economic competitiveness and our national security.” This h

Biden Looks to Intel’s U.S. Investment to Buoy His China Agenda

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2022-01-22 05:00:07

The president said passage of a China competition bill was needed “for the sake of our economic competitiveness and our national security.”

This historic investment for Ohio, one of the largest investments in semiconductor manufacturing in American history: a brand new $20 billion campus outside of Columbus, Ohio. Semiconductors are small computer chips that power virtually everything in our lives — your phone, your car, your refrigerator, your washing machine. America invented these chips. Today, we barely produce 10 percent of the computer chips despite being the leader in chip design and research. We don’t have the ability to make the most advanced chips now — right now. But today, 75 percent of the production takes place in East Asia, 90 percent of the most advanced chips are made in Taiwan. China is doing everything it can to take over the global market. I want other cities and states to be able to make an announcement like the one being made here today, and that’s why I want to see Congress pass this bill right away and get it to my desk. Let’s get another historic piece of bipartisan legislation done. Let’s do it for the sake of our economic competitiveness and our national security.

WASHINGTON — In celebrating a $20 billion investment by Intel in a new semiconductor plant in Ohio, President Biden sought on Friday to jump-start a stalled element of his economic and national security agenda: a huge federal investment in manufacturing, research and development in technologies that China is also seeking to dominate.