🎈 Up Big Today: Find today's biggest gainers (some over 50%!) with our free screenerTry Stock Screener

'Quad' countries to agree on secure microchip supply chains-media

Published 09/18/2021, 11:16 AM
Updated 09/18/2021, 11:20 AM
© Reuters. FILE PHOTO: U.S. President Joe Biden delivers holds a semiconductor chip as he speaks prior to signing an executive order, aimed at addressing a global semiconductor chip shortage, in the State Dining Room at the White House in Washington, U.S., February
JP225
-

TOKYO (Reuters) - Leaders of the United States, Japan, India and Australia will agree to take steps to build secure semiconductor supply chains when they meet in Washington next week, the Nikkei business daily said on Saturday, citing a draft of the joint statement.

U.S. President Joe Biden will host a first in-person summit of leaders of the "Quad" countries, which have sought to boost co-operation to push back against China's growing assertiveness.

The draft says that in order to create robust supply chains, the four countries will ascertain their semiconductor supply capacities and identify vulnerability, the Nikkei said, without unveiling how it had obtained the document.

The statement also says the use of advanced technologies should be based on the rule of respecting human rights, the newspaper said on its web site.

The draft does not name China, but the move is aimed at preventing China's way of utilising technologies for maintaining an authoritarian regime from spreading to the rest of the world, the Nikkei said.

© Reuters. FILE PHOTO: U.S. President Joe Biden delivers holds a semiconductor chip as he speaks prior to signing an executive order, aimed at addressing a global semiconductor chip shortage, in the State Dining Room at the White House in Washington, U.S., February 24, 2021. REUTERS/Jonathan Ernst/File Photo/File Photo

The United States and China are at odds over issues across the board, including trade and technology, while Biden said in April his country and Japan, a U.S. ally, will invest together in areas such as 5G and semiconductor supply chains.

No officials were immediately available for comment at the Japanese foreign ministry.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.