Sign In  |  Register  |  About Menlo Park  |  Contact Us

Menlo Park, CA
September 01, 2020 1:28pm
7-Day Forecast | Traffic
  • Search Hotels in Menlo Park

  • ROOMS:

Biden admits China 'dominating' raw material production, promises to bring 'full battery supply chain home'

President Joe Biden touted the purported successes of "Bidenomics" through his Inflation Reduction and CHIPS and Science Acts to address Chinese global competition.

President Biden – while in South Carolina Thursday to make the argument that his economics measures rammed through Congress with little Republican support benefits red states – admitted that China is "dominating raw material production," but vowed to bring the "full battery supply chain home." 

Touting his "Bidenomics" plan at a manufacturing plant in West Columbia, Biden claimed the while the United States used to rank first on the world stage in research and development, the country has fallen to number 9. Meanwhile, according to Biden, China, ranking eight a decade ago, now ranks second. 

"We know for too long China is dominating the production of raw materials needed for critical products. That's why we're building alliances with our friends all across the world, increasing our production here at home to create alternative sources for the minerals we need," Biden said. "Our goal is to bring full battery supply chain home. We create a battery belt stretching from Michigan to Georgia. In Chester County, S.C., Albemarle is investing $1.5 billion in processing lithium for electric vehicle batteries." 

Biden spoke on the importance of brining semiconductor production back to the U.S., describing how the "small little computer chip the size of the tip of your finger affects nearly everything in our lives from your cell phone to automobiles, to refrigerators to the most sophisticated weapons systems." The United States, he said, went from producing 40% of the world’s chips down now to less than 10%. 


"And guess what? America invented these chips," Biden said, arguing for the importance of the CHIPS and Science Act.

The president claimed that since he’s taken office, his administration has attracted $497 billion in private investment in American manufacturing "both here and around the world." 

"Its historic – it is Bidenomics in action. Instead of exporting jobs to cheaper labor costs. We did for decades. We're creating jobs here," he said. 

Biden also referenced how the Department of Energy on Thursday announced new incentives for companies to bring solar power manufacturing back to the U.S. 

"We're in a real race – China is ahead of us," he said. "This is another step in helping us need to go 100% clean, renewable energy electricity by 2035. By 2035. All electricity in America is going to be generated by clean energy. That's a big deal. Saving billions of tons going into the air pollution." 

Since he signed the Inflation Reduction Act and the CHIPS and Science Act into law, Biden claimed companies have announced $11 billion in manufacturing clean energy investments in South Carolina alone. He also made a case that "clean energy technology will be made stronger by collective bargaining." 


"My dad used to have an expression when we were growing up. He said, ‘Joey, a job is about a lot more than the paycheck, it's about your dignity, it's about respect. It's about being able to look your kid in the eye and say honey it's okay - and mean it.’ That's Bidenomics," Biden said Thursday. "It's rooted in what always worked best for this country - investing in America. Because when you invest in our people, when you strengthen the middle class, we see stronger economic growth benefits everybody. I've long said, it's never been a good bet to bet against America." 

Biden is using his visit to showcase a new clean energy manufacturing partnership between solar firm Enphase Energy and manufacturer Flex Ltd. that is projected to create 600 jobs in the state and 1,200 more throughout the country. Enphase, which is making a $60 million investment to open up six new manufacturing lines, including two in South Carolina, is benefiting from tax incentives included in Biden's $370 billion Inflation Reduction Act. 

The White House on Wednesday castigated Republicans for voting against the legislation and subsequent efforts to claw back tax incentives included in the bill.

"Republicans in Congress, including every Republican representative from South Carolina, want to threaten these investments, jobs and economic opportunities by repealing – repealing the Inflation Reduction Act, which actually helps the American people," White House press secretary Karine Jean-Pierre said. "But as the president said in his first inauguration, he’s the president for all Americans. It doesn’t matter if you’re in a red state or a blue state."

Republican Rep. Joe Wilson, who represents an area that will benefit from Enphase's new investment, took to Twitter after the law was approved on a party-line vote to say it passed to "the detriment of American families," calling it a "waste" of money. Wilson also voted in April to overturn the clean energy tax credits in the legislation that incentivized the Enphase investment.

The White House also took note of another South Carolina Republican, Rep. Nancy Mace, congratulating the Charleston Area Regional Transportation Authority for winning nearly $26 million to build and repair clean energy transportation projects under the $1 trillion infrastructure legislation. She voted against the bill. Sen. Tim Scott, who is running for the 2024 GOP presidential nomination, also voted against the infrastructure bill, saying it included "reckless spending on unrelated pet projects."

The Associated Press contributed to this report. 

Data & News supplied by
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
Copyright © 2010-2020 & California Media Partners, LLC. All rights reserved.