The leaders of the two countries aim to create a North American market for the entire range of products – from semiconductors to solar cells.
The United States and Canada signed an agreement with IBM to build semiconductor manufacturing capacity to reduce dependence on foreign manufacturers. This was announced on Friday, March 24, by Canadian Prime Minister Justin Trudeau, Voice of America reports.
In turn, US President Joe Biden said that the American “Defense Production Act” would allocate $250 million for this.
“With increasing competition, including from an increasingly assertive China, it is undoubtedly important that we look to each other to create a North American market for everything from semiconductors to solar cells,” said said Trudeau.
Biden also announced the allocation of $ 50 million to stimulate American and Canadian companies to invest in the production of chips needed by the industry.
Also, Biden and Trudeau at a meeting on Friday announced their intention to support Ukraine “whatever it takes.”
It was previously reported that the United States plans to limit the supply of semiconductors to China.
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Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.