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Biden mentions Samsung in roundtable gathering

Posted March. 11, 2022 07:49,   

Updated March. 11, 2022 07:49


Presiding over a meeting with global companies to discuss the expansion of semiconductors supply on Wednesday, U.S. President Joe Biden expressed his gratitude to Samsung Electronics.

“Thank you for being here. Samsung has committed $17 billion — its largest-ever U.S. investment — to build a semiconductor facility in Texas, which I understand is going to create 2,000 good-paying jobs,” said President Biden at a Roundtable meeting with global CEOs in support of the Bipartisan Innovation Bill.

The roundtable was attended by Secretary of Commerce Gina Raimondo, Director of the National Economic Council Brian Deese, as well as the heads of global companies such as Micron, Hewlett-Packard, Whirlpool, and Medtronic. Samsung foundry business chief Choi Si-young joined the meeting through a video conference and was the only representative of a foreign company in presence. President Biden has never forgot to invite Samsung for semiconductor meetings.

The roundtable on Wednesday was convened to discuss the supply solution of semiconductors as well as help pass Mr. Biden’s Innovation Bill. Earlier last month, the U.S. House of Representatives passed “America Competes Act” that includes a 52-billion-dollar investment to support America’s production of semiconductors. The U.S. Congress is going to deliberate the Innovation Bill along with the United States Innovation and Competition Act that passed the Senate in June last year.

“These semiconductors that are the size of a fingertip, power about every day,” said President Biden, stressing the ubiquity of chips. Pointing out the lack of local semiconductor production, he urged the Congress to work out their differences and pass the bill as quickly as possible. Immediately after the roundtable, the White House announced on its briefing room that the “business leaders discussed how the bill will foster domestic semiconductors manufacturing and create more resilient supply chains.”