US Chip Supply ‘Too Concentrated’ Globally, Raimondo Says
- Commerce secretary urges doubling of Philippines chip plants
- Washington wants to lessen dependence on chipmaking hubs
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The US wants to help the Philippines double its semiconductor facilities, to lessen the geographic concentration of the global chip supply chain, Commerce Secretary Gina Raimondo said in a business forum in Manila on Tuesday.
The comments came in the wake of a Raimondo-led trade mission announcing over $1 billion in investments by US companies in the Philippines. The commerce chief, much like US Secretary of State Antony Blinken, has sought to encourage nations in Southeast Asia to deepen their investment in chipmaking and related industries, at a time when much of that business still happens in Taiwan, China and South Korea.