‘The next era of humanity’s technological development’: U.S. and its Asian allies get serious about semiconductors

The United States, Japan and South Korea are looking for common ground on the world stage. They're finding it in Semiconductors.

On his first trip through Asia as president, Biden stopped at a factory in South Korea.

Biden said on Friday that the key to propelling us into the next era of humanity was the tiny chips.

The new president of South Korea said over the weekend that he and Biden visited what can be described as the "global epicenter" of cutting-edge Semiconductor industry. I was able to feel the strength of the alliance.

The development of artificial intelligence and quantum technologies will be aided by chips, which are an essential part of everything from automobiles to home appliances. The leaders of the three countries have avoided mentioning China, but export controls are on the agenda.

The main thing of interest to investors might be what they say about supply chains and how much they align on export controls of sensitive technologies to China and investment in the U.S.

U.S. Commerce Secretary Gina Raimondo, center, met on Monday in Tokyo with Japan’s trade minister, Koichi Hagiuda. The two democracies are working to shore up their alliance against a backdrop of economic uncertainty around the world. U.S. Ambassador to Japan Rahm Emanuel is at left.

Gina Raimondo met with Koichi Hagiuda in Tokyo. According to a CNBC translation of a statement from the Japanese Ministry of Economy, Trade and Industry, the two discussed cooperation in fields such as semiconductors and export control.

Both Japan and South Korea are technology powerhouses. As of 2020, the two countries have bigger export relationships with China than with the U.S.

The United States needs to boost its economic relevance in Asia in order to play a central role in the geopolitics.

While in Tokyo, Biden is expected to outline details of the Indo-Pacific Economic Framework, an agreement that will focus on shared standards around digital technology and supply chains.

Free trade will not be part of the deal.

Biden has to deal with both the left and right who are suspicious of trade agreements.

The United States pioneered what was expected to be a massive free trade agreement, the Trans-Pacific Partnership, only to see it destroyed by former President Donald Trump.

Twelve nations in Asia-Pacific, North America and South America were included in the Trans-Pacific Partnership.

Hillary Clinton said on the campaign trail that she would cancel the Trans-Pacific Partnership even though she worked on it as Secretary of State.

The Comprehensive and Progressive Trans-Pacific Partnership was formed after the United States withdrew from the Trans-Pacific Partnership.