It has been three years since US manufacturing returned.
In 2020, the United States almost attracted Japan's Toyota and Panasonic, South Korea's Samsung, LG, SK on, and Taiwan's TSMC, Mediatek and other manufacturing giants.
Almost all the well-known Japanese and South Korean tech companies have set up factories in the United States, which is an impressive lineup.
The return of manufacturing is encouraging.
Apple CEO Tim Cook praised the achievements of the U.S. chip industry, and American consulting firm Kearney predicted that the manufacturing reshoring has been successful.
U.S. President Joe Biden declared, "American manufacturing is back, and we are going to change the game and lead the world in manufacturing again."
Pushed by the United States, Japanese and South Korean companies have made ambitious plans to build factories in the United States.
In the chip sector alone, investment exceeds $300 billion.
While TSMC is often referred to, Samsung actually has a much larger chip business in the United States.
They made an ambitious plan in 2022, planning to build 11 chip manufacturing plants in the United States within 20 years, with a total investment of up to $200 billion, equivalent to about 1.5 trillion yuan.
Not to be outdone, Intel plans to invest $100 billion in four states to expand chip manufacturing capacity.
In addition, although TSMC's investment scale is slightly smaller, they have the strongest technical strength, not only bringing their own industrial chain, but also introducing the latest 5-nanometer technology.
It can be said that these three companies represent the highest level of global chip manufacturing. In addition to chips, the U.S. automotive and battery industries also have a strong reflux lineup.
Power batteries have always been the world of China, Japan and South Korea, almost monopolizing the world's top ten. South Korea's LG, Samsung and SK on have 16 planned battery factories in the United States, seven of which are occupied by LG, while Japanese companies have several large plants with enough capacity to supply millions of electric vehicles.
Coupled with the investment of car companies such as Japan's Toyota and South Korea's Hyundai, the United States soared almost across the three major industries of chips, automobiles and batteries. As a rough estimate, these giants announced plans to invest no less than $500 billion.
All this is the envy of China.
China originally planned to cooperate with Japan and South Korea to break through, but did not expect that in just three years, Samsung, TSMC, LG, Panasonic and other companies have suspended their factory projects in the United States.
Among them, TSMC's budget overruns four times, the factory is delayed for at least one year, if the subsidies are not in place, may face the risk of collapse;
Samsung also announced a one-year extension because of the lack of subsidies;
In addition, battery giants such as LG and Panasonic have either slowed the pace of building factories or have stopped expanding them.
If this wave of repatriation fails, it will be a lose-lose outcome, with Japanese and South Korean companies losing huge investments.
Why are Japanese and Korean giants heading to America? In fact, the return of American manufacturing has been brewing for three generations of presidents.
The first was under President Barack Obama, who launched a failed manufacturing revitalization program as soon as he took office.
The second was during the Trump era, when he took radical steps to try to make America great again, but the results of the second US manufacturing repatriation were not much.
By the time Biden took office, American manufacturing was on the ropes.
As the world's largest consumer market, the United States is more important in automobile consumption, and its consumption power is far more than that of China, so as long as it can be laid out in the United States, it can occupy a leading advantage.
Therefore, it is not blind that giants such as Japan and South Korea will invest money and resources to build factories in the United States.
In addition, according to the forecast of the famous Pew Research Center, one of the reasons for the obstruction of the return of manufacturing in the United States is the shortage of skilled workers in the United States, accounting for 70% of the factors.
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