With China investing in computer chips of its own, the U.S. is working to solidify its technology relationships with South Korea, Taiwan and Japan.
Legislation signed by President Joe Biden, known as the CHIPS and Science Act, includes $52 billion for grants and incentives for semiconductor companies, plus a 25% tax credit when they invest in U.S. facilities. There's also about $200 billion over the next decade to support research programs.
Jimmy Goodrich, vice president for global policy at the Semiconductor Industry Association, said "there's no one country or company that can do everything on its own."
When it comes to Japan, he said, "there's a big opportunity and significant space for future investment."
Although Japan was once a world leader in computer chip manufacturing, its status has eroded over the last two decades, and the country is increasingly worried about falling behind.
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