US, Mexico Semiconductor Cooperation

[ABS News Service/30.03.2024]

The State Department announced yesterday it will partner with the Mexican government to explore opportunities to grow and diversify the global semiconductor ecosystem under the International Technology Security and Innovation Fund, created by the CHIPS Act of 2022.

This partnership will help create a more resilient, secure and sustainable global semiconductor value chain, according to State.

The United States and Mexico are key partners in ensuring the global semiconductor supply chain keeps pace with the digital transformation underway worldwide, State noted in the announcement. Manufacturing of essential products ranging from vehicles to medical devices relies on the strength and resilience of the semiconductor supply chain. This collaboration between the United States and Mexico underscores the significant potential to expand Mexico’s semiconductor industry to the benefit of both nations and will build on existing cooperation under the bilateral High-Level Economic Dialogue and trilateral North American Leaders Summit process.

The partnership also will support the work already underway to bolster regional competitiveness in semiconductors, including workforce development, in the Americas Partnership for Economic Prosperity.