“The US Department of Commerce and Samsung Electronics have signed a non-binding preliminary memorandum of terms to provide up to $6.4 billion in direct funding under the Chips and Science Act,” said a statement published by the Commerce Department. A general view of Samsung Electronics’ semiconductor plant under construction in Taylor, Texas, on January 2, … Read more
“It’s been very successful,” said Daniel Mullaney, the former top U.S. negotiator on trade issues with Europe, of the TTC. “We’ve had high-level attention, including at the presidential levels, on all of these issues. That’s kept the momentum going.” The question now is what happens if Trump wins back the White House in November. Even … Read more
MANILA: US companies are set to announce investments amounting to more than US$1 billion dollars in the Philippines, United States Commerce Secretary Gina Raimondo said during an official visit to Manila on Monday (Mar 11). The investments would be in areas like solar energy, electric vehicles and digitisation, she said, adding that US companies were … Read more
The US government is awarding US$1.5 billion to GlobalFoundries to expand semiconductor production, the Biden administration said on Monday, in a bid to strengthen domestic supply chains after the Covid-19 pandemic exposed weaknesses. GlobalFoundries, the world’s third-largest contract chip maker, will build a new semiconductor production facility in Malta, New York, and expand existing operations … Read more
A group of 15 US lawmakers on Thursday urged the Commerce Department to add TikTok’s China-based parent company ByteDance to a government export control list to restrict its access to American software. The lawmakers, led by Republican congressman Dan Crenshaw and Democrat Josh Gottheimer, in a letter to Commerce Secretary Gina Raimondo urged that ByteDance … Read more
United States Commerce Secretary Gina Raimondo said her department is exploring how to force cloud companies to disclose when a foreigner taps their computing power to fuel artificial intelligence (AI) applications, signalling the next phase of the tech war between Washington and Beijing. “We’re beginning the process of requiring US cloud companies to tell us … Read more
