Japan, U.S. launch $21 bil. chip project to boost economic security

TOKYO - Japan has agreed with the United States on a semiconductor production project worth up to roughly $21 billion in the state of New York as the two countries seek to strengthen their economic security, trade minister Ryosei Akazawa said Thursday.

The project will be the third to be launched under a bilateral trade deal reached last year in exchange for tariff relief from the United States.