Tokyo: Japan announced on Thursday that it has reached an agreement with the United States on a semiconductor manufacturing project in the state of New York, with investments totaling nearly $21 billion.
The project is the third among investment initiatives undertaken under the bilateral trade agreement concluded between the two countries last year, under which Japan secured US tariff exemptions.
The project aims to bolster the resilience of semiconductor supply chains by expanding production of electronic chips used in the automotive, industrial machinery, smartphone and artificial-intelligence data center sectors.