Japan, US issue joint statement on semiconductor development

Japan and the United States have agreed to strengthen cooperation in the field of next-generation semiconductors.

Japanese Economy Minister Nishimura Yasutoshi and US Commerce Secretary Gina Raimondo discussed economic prosperity and security on Friday in Detroit, Michigan.

A joint statement issued after the meeting says the two countries will encourage cooperation in road-mapping for technological and human resource development. It also says they will cooperate to identify and resolve geographic concentrations of production undermining semiconductor supply-chain resilience.

Following their talks, Nishimura told reporters that he and Raimondo agreed to hold a second US-Japan economic two-plus-two meeting as soon as possible. The first took place last July in Washington.

He added that the joint statement will help to strengthen cooperation between the two countries in the field of economic security.