January 31, 2023

Taylor Daily Press

Complete News World

FILE PHOTO: Illustration picture of semiconductor chips on a circuit board

The US is set to discuss a new CHIP bill with Taiwan next month

Last month, U.S. President Joe Biden signed the “Chips and Science Act,” authorizing about $52 billion in government subsidies for U.S. semiconductor manufacturing and research, as well as $24 billion in tax credits for investment in chip factories.

The U.S. has encouraged foreign technology companies to manufacture in the country, and the government has invested in Taiwan’s TSMC and GlobalWafers. welcomed.

Sandra Oetkirk, director of the American Institute in Taiwan, told an industry forum that the U.S.-Taiwan Technology Trade and Investment Cooperation Framework, or TTIC, helped increase and prioritize U.S.-Taiwan economic ties.

“TDIC is a powerful platform that we are already using to address semiconductor challenges such as critical chip shortages that are adversely affecting many industry sectors,” he said of the framework launched last year.

He added that the next “engagement” under the framework would be in Washington from October 12-14.

“At this event, we plan to hold a roundtable to share more about how the CHIPS and SCIENCE Act will be implemented in the United States,” Oudkirk said without elaborating.

“In addition to Taiwan’s investment in hardware and technology through the Chips and Science Act, the United States seeks the continued support of Taiwan’s industry in connecting the talent and innovation ecosystem here with the United States and other like-minded partners.”

As the global chip crisis continues to affect auto manufacturing and consumer electronics, Taiwan is keen to portray its main international creditor and arms supplier, the United States, as a reliable friend despite the lack of formal diplomatic ties.

TSMC, a major supplier to Apple Inc and the world’s largest contract chip maker, is building a $12 billion factory in the US state of Arizona.

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