Japan and the United States will issue a joint statement on technology cooperation on Friday that will commit them to closer cooperation in research and development of advanced chips and other technologies, a Japanese government source said.
Japan's Minister of Economy, Trade and Industry Yasutoshi Nishimura and U.S. Secretary of Commerce Gina Raimondo will meet in Detroit in the U.S. on the sidelines of the 2023 APEC Ministers Responsible for Trade Meeting, Yomiuri reported earlier. In addition to semiconductors, they will discuss artificial intelligence and quantum technology, the newspaper added.
FILE - U.S. Commerce Secretary Gina Raimondo on Capitol Hill in Washington, May 16, 2023.
They want to deepen ties between research and development hubs in Japan and the U.S., the Japanese official told Reuters, asking not to be identified because he is not authorised to talk to the media. It will be another incremental step as they map out their future technology cooperation, he added.
As Washington and Tokyo reduce their exposure to Chinese supply chains amid growing tension, they are working together to expand chip manufacturing to ensure access to advanced components that they see as essential for economic growth.
Japan has established a new chip maker, Rapidus, that is working with International Business Machines Corp (IBM)(IBM.N) to develop advanced logic semiconductors, and is offering subsidies to U.S. memory maker Micron Technology Inc (MU.O) so it can expand production there.
Japan, along with the Netherlands, has also agreed to match U.S. export controls that will limit the sale of some chipmaking tools in China.
The meeting between Nishimura and Raimondo comes after the leaders of the Group of Seven advanced democracies agreed at a meeting in Hiroshima, Japan, to reduce their exposure to China because of its 'economic coercion.'
Raimondo on Thursday met China's Minister of Commerce Wang Wentao in Washington where the pair exchanged views on trade, investment and export policies.