Biden Incentives for Foreign Investment Are Benefiting Factories

The Biden administration's incentives for foreign investment in advanced manufacturing, such as semiconductor production and renewable energy technology, have redirected foreign direct investment towards the factory sector in the United States, although the overall amount of investment has not significantly increased.

nytimes.com

Relevant topic timeline:

8/16/2023

$220 billion is helping build US cleantech infrastructure. Here are the projects.

Main topic: The impact of President Joe Biden's industrial policy on US cleantech and semiconductor manufacturing. Key points: 1. The Inflation Reduction Act and the Chips and Science Act, signed into law by President Biden, provided over $400 billion in tax credits, loans, and subsidies to stimulate the development of a domestic cleantech and semiconductor supply chain. 2. The legislation has resulted in over 110 large-scale manufacturing announcements in sectors such as semiconductors, electric vehicles, batteries, and solar and wind parts. 3. These announcements represent at least $224 billion in investment and the creation of 100,000 jobs in the US.

9/13/2023

Firms Rapidly Shift Investment from China to India As Business Environment Deteriorates

U.S. and European firms are redirecting their investment away from China to other developing markets, primarily India, due to concerns over China's business environment, economic recovery, and politics, according to a report from Rhodium Group, although China's share of global growth continues to increase.

9/14/2023

Biden Administration Announces Increased Scrutiny of Foreign Investments in U.S.

The Biden administration plans to increase scrutiny of foreign-owned companies' investment plans in the United States, with a focus on national security concerns and potential risks related to China.