Securing America's supply chains is a top priority for President Biden and his Administration. We welcome Samsung's announcement today that it will build a new semiconductor facility in Texas, helping protect our supply chains, revitalizing our manufacturing base, and creating good jobs right here at home. The Biden-Harris Administration has been working around the clock with Congress, our allies and partners, and the private sector to generate additional semiconductor manufacturing capacity and make sure we never again face shortages. Today's announcement is the result of sustained work by the administration, including engagement with Samsung and the President's meeting with President Moon of the Republic of Korea in May where the two leaders announced they would facilitate mutual and complementary investments in semiconductors. More work remains to be done to ensure America remains the most innovative and productive nation on Earth. We will continue to use every tool and pursue every avenue to invest in our sources of strength like manufacturing and technology so we can grow our economy, bolster the middle class, and strengthen our long-term competitiveness.
