Promoting investment attraction performance amid concerns over repeal of Trump’s semiconductor law and IRA
(Lima = Newsis) Reporter Cho Su-jeong = U.S. President Joe Biden is listening to President Yoon Seok-yeol’s remarks at the Korea-U.S.-Japan summit held at the Lima Convention Center in Peru on the 15th (local time). 2024.11.26.
(Washington = Newsis) Correspondent Lee Yoon-hee = U.S. President Joe Biden emphasized on the 25th (local time) that he had attracted more than 1,000 trillion won in private investment through the Semiconductor Support Act and the Inflation Reduction Act (IRA), which were implemented during his term.
As concerns persist that IRAs promoted by the Biden administration may be abolished or adjusted once the incoming Donald Trump administration takes office, they appear to be promoting their achievements to prevent this.
In a statement released on this day, President Biden explained, “From the first day of my inauguration, I decided to stabilize the economy and grow the economy from the bottom up, not from the top down, from the middle class. That’s what we have done over the past four years.”
“We have passed legislation to rebuild our infrastructure, build a clean energy economy, and bring manufacturing back to the United States after decades of moving overseas,” he said, adding, “Investing America,” including the bipartisan infrastructure bill, semiconductor law, and IRA “I am proud to announce that the ‘Invest in America’ agenda has attracted $1 trillion (approximately 1,398 trillion won) in private investment,” he said.
“More than 1.6 million construction and manufacturing jobs have been created over the past four years, and our investments will protect our economy and national security by making America a leader in clean energy and semiconductor technology.”
President Biden said, “Today, thanks to the agenda of investing in America, companies around the world are investing in the United States, which is good news for American workers and companies,” adding, “The United States is positioned to win the 21st century economic competition.” insisted.
Although this statement did not mention the incoming administration, it is interpreted as being in consideration of President-elect Trump, who has shown negative views on the Semiconductor Act and the IRA.
During the presidential election, President-elect Trump expressed his opposition to semiconductor subsidies and claimed that he would abolish IRA, an eco-friendly policy.
In particular, the American media Axios interpreted President Biden’s statement as “implying the uncertain fate of unused funds allocated by the Biden era law, including IRA.”
The semiconductor law and the continuation of IRA are of utmost concern to Korean companies.
◎ Sympathetic media Newsis (email protected)
Source: www.newsis.com
