US And Mexico To Partner On Semiconductor Supply Chain Development

US And Mexico To Partner On Semiconductor Supply Chain Development

The United States and Mexico are partnering to strengthen the semiconductor supply chain, aligning with the U.S. CHIPS Act of 2022. This collaboration involves assessing Mexico’s semiconductor ecosystem, regulatory framework, and infrastructure needs. Stakeholders like state governments, educational institutions, and companies, along with Mexico’s Secretariat of Economy, will participate in this analysis.

The automotive and medical device industries will profit from this partnership, which is essential for the stability and competitiveness of the global semiconductor supply chain. It expands on already-existing structures for collaboration, including the trilateral North American Leaders Summit process and the bilateral High-Level Economic Dialogue. Additionally, it backs regional initiatives that emphasise workforce development and semiconductor competitiveness, such as the Americas Partnership for Economic Prosperity.

President Biden’s CHIPS Act of 2022, which provides $500 million over five years to enhance the security and diversification of the semiconductor supply chain, established the International Technology Security and Innovation (ITSI) Fund. With the help of partners and allies, this financing will enable new projects and programmes.

The U.S.-Mexico collaboration aims to reduce reliance on China and Taiwan for semiconductor technology while fostering economic growth and strategic advantages for both nations.