The administration aims to do that not just for chips, but also for green energy technology such as electric vehicle batteries, solar panels and wind turbines. China is by far the biggest player in those industries.
Mr. Biden and his aides say that dominance by Chinese companies is a national security issue as well as a human rights problem, given that some of the manufacturing takes place in Xinjiang, a region of China where officials force members of some Muslim ethnic groups to work in factories.
Over three years of the Biden administration, the United States has attracted $395 billion of foreign investment in semiconductor manufacturing and $405 billion for making green technology and generating clean power, Mr. Toloui said.
Many of the companies investing in that kind of manufacturing in the United States are based in Asian countries known for their tech industries — Japan, South Korea and Taiwan, for instance — and in Europe. One is SK Hynix, a South Korean chipmaker that is building a $3.8 billion factory in Indiana. The State Department says that the project is the largest-ever investment in that state and that it has the potential to bring more than 1,000 jobs to the region.
Secretary of State Antony J. Blinken mentioned that project in a speech last month at a conference in Maryland aimed at encouraging foreign investment in the United States. And he underscored how he hoped legislation enacted by Mr. Biden would draw foreign investment to U.S. high-tech manufacturing by “modernizing our roads, our rail, our broadband, our electric grid.”
