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for example, during the pandemic what happened was all of a sudden everybody started to learn the phrase supply chain. a year ago no one knew what the hell anybody was talking about when you said supply chain but now they all know, and we lost access to these these semiconductors in which new automobiles in the united states need 30,000 of them just to build a new automobile and we didn t have them. so we started investing here and what happened was when we encouraged the investment through the chips and science act and now we have an enormous investment in the united states, over $200 billion in long-term investment in semiconductors. we are rebuilding the economy of the united states with those semiconductors. it s not designed to hurt china. the only thing i did say with regard to china, there are certain extremely sophisticated semiconductors that we have built that are useful for nuclear and or other weapons systems. those we are not selling. we are not exporting ....
biden and the south korean counterpart meet as the u.s. faces global questions about its alliances after a high-profile intelligence leak. plus wheelin and dealin , how house speaker kevin mccarthy s plans are changing fast, but can he pass the bill? the deadline is creeping closer. and e. jean carroll takes the stand in a trial against the former president. we re following these major developing story and many more, all coming into cnn news central. this hour president biden and south korean president yoon are expected to hold a joint news conference, as they hold critical calling. they are expected to sign a key new agreement focused on deterring north korea s rising nuclear threat. phil mattingly joins us now. i wonder, as we look at this why this meeting now, and talk a bit about the nuclear piece of it. it s alarming. look, this is a critical agreement, one that underscores a president s policy long centered on the alliances and making sure they are as ....
40% of the market. we decided that what we were going to do over the past i don t know how many decades we decided that it was going to be cheaper to export jobs and import product. along came the pandemic and the pandemic taught us that we used to have 40% of the market just some years ago, now it s down to 10%. and, again, we invented the super we got so i decided to go out and see what we could do to increase our hold on the market once again. so what i did was i went around the country as well as in addition of passing the chips d sciee act, i, in fact, visited countries around the world and two significant south korean companies decided they were going to invest billions of dollars in chip manufacturing in the united states. it wasn t designed to hurt china, it was designed so we didn t have to worry about whether or not we had access to semiconductors. ....