Biden: the U.S. will not be held hostage by China in semiconductor manufacturing

U.S. President Joe Biden visited a $300 million semiconductor manufacturing plant in Michigan and said the U.S. “will no longer be held hostage” by countries like China that dominate the industry.

“Instead of relying on chips made overseas in places like China, the supply chain for those chips will be here in America. In Michigan. That will make a dramatic difference,” Biden told an audience of more than 400 people gathered at the SK Siltron CSS plant in Bay City.

The company is part of South Korean conglomerate SK Group, and the plant will produce materials for semiconductors to be used in electric cars.

“The difference is that we will make this supply chain available to the rest of the world, and we will no longer be held hostage,” Biden said.