Голова ФДМ також анонсував аукціони квартир російського олігарха Михайла Шелкова та співробітника російської окупаційної адміністрації Володимира Сальдо
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Київ працює над створенням Компенсаційної комісії та Компенсаційного фонду, який має наповнюватися за рахунок конфіскованих активів Росії, розповів прем’єр
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WILMINGTON, Del. — The Biden administration pledged on Monday to provide up to $6.6 billion so that a Taiwanese semiconductor giant can expand the facilities it is already building in Arizona and better ensure that the most-advanced microchips are produced domestically for the first time. 

Commerce Secretary Gina Raimondo said the funding for Taiwan Semiconductor Manufacturing Co. means the company can expand on its existing plans for two facilities in Phoenix and add a third, newly announced production hub. 

“These are the chips that underpin all artificial intelligence, and they are the chips that are the necessary components for the technologies that we need to underpin our economy,” Raimondo said on a call with reporters, adding that they were vital to the “21st century military and national security apparatus.” 

The funding is tied to a sweeping 2022 law that President Joe Biden has celebrated and which is designed to revive U.S. semiconductor manufacturing. Known as the CHIPS and Science Act, the $280 billion package is aimed at sharpening the U.S. edge in military technology and manufacturing while minimizing the kinds of supply disruptions that occurred in 2021, after the start of the coronavirus pandemic, when a shortage of chips stalled factory assembly lines and fueled inflation. 

The Biden administration has promised tens of billions of dollars to support construction of U.S. chip foundries and reduce reliance on Asian suppliers, which Washington sees as a security weakness. 

“Semiconductors – those tiny chips smaller than the tip of your finger – power everything from smartphones to cars to satellites and weapons systems,” Biden said in a statement. “TSMC’s renewed commitment to the United States, and its investment in Arizona represent a broader story for semiconductor manufacturing that’s made in America and with the strong support of America’s leading technology firms to build the products we rely on every day.” 

Taiwan Semiconductor Manufacturing Co. produces nearly all of the leading-edge microchips in the world and plans to eventually do so in the U.S. 

It began construction of its first facility in Phoenix in 2021, and started work on a second hub last year, with the company increasing its total investment in both projects to $40 billion. The third facility should be producing microchips by the end of the decade and will see the company’s commitment increase to a total of $65 billion, Raimondo said. 

The investments would put the U.S. on track to produce roughly 20% of the world’s leading-edge chips by 2030, and Raimondo said they should help create 6,000 manufacturing jobs and 20,000 construction jobs, as well as thousands of new positions more indirectly tied to assorted suppliers in chip-related industries tied to Arizona projects. 

The potential incentives announced Monday include $50 million to help train the workforce in Arizona to be better equipped to work in the new facilities. Additionally, approximately $5 billion of proposed loans would be available through the CHIPS and Science Act. 

“TSMC’s commitment to manufacture leading-edge chips in Arizona marks a new chapter for America’s semiconductor industry,” Lael Brainard, director of the White House National Economic Council, told reporters. 

The announcement came as U.S. Treasury Secretary Janet Yellen is traveling in China. Senior administration officials were asked on the call with reporters if the Biden administration gave China a head’s up on the coming investment, given the delicate geopolitics surrounding Taiwan. The officials said only that their focus in making Monday’s announcement was solely on advancing U.S. manufacturing. 

“We are thrilled by the progress of our Arizona site to date,” C.C. Wei, CEO of TSMC, said in a statement, “And are committed to its long-term success.” 
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BEIJING — U.S. Treasury Secretary Janet Yellen warned China on Monday that Washington will not accept new industries being decimated by Chinese imports as she wrapped up four days of meetings to press her case for Beijing to rein in excess industrial capacity. 

Yellen told a media conference that U.S. President Joe Biden would not allow a repeat of the “China shock” of the early 2000s, when a flood of Chinese imports destroyed about 2 million American manufacturing jobs. 

She did not, however, threaten new tariffs or other trade actions should Beijing continue its massive state support for electric vehicles, batteries, solar panels and other green energy goods. 

Yellen used her second trip to China in nine months to complain that China’s overinvestment has built factory capacity far exceeding domestic demand, while fast-growing exports of these products threaten firms in the U.S. and other countries. 

She said a newly created exchange forum to discuss the excess capacity issue would need time to reach solutions. 

Yellen drew parallels to the pain felt in the U.S. steel sector in the past. 

“We’ve seen this story before,” she told reporters. “Over a decade ago, massive PRC government support led to below-cost Chinese steel that flooded the global market and decimated industries across the world and in the United States.” 

Yellen added: “I’ve made it clear that President Biden and I will not accept that reality again.” 

When the global market is flooded with artificially cheap Chinese products, she said, “the viability of American and other foreign firms is put into question.” 

Yellen said her exchanges with Chinese officials had advanced American interests and that U.S. concerns over excess industrial capacity were shared by allies in Europe, Japan, Mexico, the Philippines and other emerging markets. 

Pushback 

China’s parliament, the National People’s Congress, said in March the government would take steps to curb industrial overcapacity. 

But Beijing says the recent focus by the United States and Europe on the risks to other economies from China’s excess capacity is misguided. 

Chinese officials say the criticism understates innovation by their companies in key industries and overstates the importance of state support in driving their growth. 

They also say tariffs or other trade curbs will deprive global consumers of green energy alternatives key to meeting global climate goals. 

Trade curbs on Chinese electric vehicles would be disruptive to a growing industry and contravene World Trade Organization rules, the industry and information technology ministry said in a statement carried by state media CCTV and China Daily. 

The ministry added that it was committed to support EV exports and would help “accelerate the overseas development” of the industry including planning for shipping and logistics and support for firms to innovate and meet global standards. 

State news agency Xinhua quoted Li as saying the U.S. should “refrain from turning economic and trade issues into political or security issues” and view the topic of production capacity from a “market-oriented and global perspective.” 

Chinese Commerce Minister Wang Wentao voiced more pointed objections during a roundtable meeting with Chinese EV makers in Paris, saying U.S. and European assertions of Chinese excess EV capacity were groundless. 

Rather than subsidies, China’s electric vehicle companies rely on continuous technological innovation, perfect production and supply chain systems and full market competition, Wang said on his trip to discuss a European Union anti-subsidy inquiry. 

Yellen said a possible short-term solution was for China to take steps to bolster consumer demand with support for households and retirement, and shift its growth model away from supply-side investments. 

Yellen spoke about the issue at length with Premier Li Qiang and also met Finance Minister Lan Foan on Sunday. She met People’s Bank of China (PBOC) governor Pan Gongsheng and former vice premier Liu He on Monday. 

In a CNBC interview after the meetings, Yellen said she was “not thinking so much” about trade curbs on China, as much as shifts in its macroeconomic environment. But she reiterated she would notrule out tariffs. 

 
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