Biden calls for bipartisan innovation law to be dealt with… “Ready to make semiconductors such as Samsung” :: Empathy Media Newsis News Agency ::

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China hires lobbyists to block bipartisan innovation law

[해밀턴=AP/뉴시스]U.S. President Joe Biden speaks at the United Performance Metals in Hamilton, Ohio. 2022.05.06.

[워싱턴=뉴시스]Correspondent Nan-Young Kim = US President Joe Biden has called for the swift passage of the ‘Extra-Party Innovation Act’ by Congress, which focuses on revitalizing the country’s manufacturing industry and producing semiconductors.

President Biden visited Hamilton, Ohio, one of America’s leading ‘rust belts’ on the 6th (local time) and said, “Congress is currently reviewing a bipartisan innovation law. We need a well-rounded playground, and the law does that,” he said.

The bipartisan innovation law aims to invest in semiconductor manufacturing, research and design in the United States, as well as strengthening the supply chain. “This is a bipartisan law,” Biden said. “Every Republican and Democrat in Congress, most of us agree. Please pass that law and send it to me.”

In this speech, not only the United States but also global semiconductor companies were mentioned. If the law passes, President Biden said “Intel will invest between $20 billion and $100 billion outside Columbus, Ohio.” “This will cement this state’s leadership through the centuries,” he said.

“It’s not just Intel,” he said. “Foreign companies like Samsung and TSMC are ready to make cutting-edge semiconductors and computer semiconductors in Arizona and Texas.” In this regard, Samsung Electronics announced in November last year that it would establish a new foundry factory in Taylor, Texas.

President Biden said the bill, if passed, “will bring back price cuts, domestic jobs and America’s manufacturing power.”

It also linked the passage of the bill to China’s containment. “There is no question that the Chinese Communist Party is literally lobbying against the passage of this bill and paying lobbyists,” Biden said during his speech.

Also, referring to conversations he had with Chinese President Xi Jinping, he said, “Like other dictators around the world, he believes that democracy is not competitive in the 21st century. Because everything changes so quickly.”

“He[Xi Jinping]believes there is no way democracy can compete with a dictatorship,” Biden said. “He told me straight away, because in a democracy we have to come to an agreement and it takes time. But the dictator must act immediately. It can be done. There is no need to wait.”

President Biden lamented, “Until now, the last 10 years he was right. A lot has changed. Look at the world. Look what happened.” “China isn’t our single biggest competitor,” he said. “If we don’t move on, we’ll be out.”

President Biden nevertheless said, “We are coming back,” citing cooperation with Europe and the North Atlantic Treaty Organization (NATO) against the invasion of Ukraine as examples. In addition, President Xi said that he had asked him to ‘define America’, and that he replied “possibility”.

“There are so many things we can do, this is America,” Biden said in his speech. Then, referring to semiconductor manufacturing, he appealed, “Let’s make it again in America. Let’s build the future in America.”

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