Biden Says US Chip Subsidies Not ‘Designed to Hurt China’

President Joe Biden defended his administration’s semiconductor subsidies, saying that they weren’t designed to hurt China but to bolster manufacturing and jobs in the US.

Asked whether measures to restrict investments in China placed US allies in a difficult spot, Biden on Wednesday said both the US and South Korea would benefit from creating more resilient supply chains.

“It wasn’t designed to hurt China. It was designed to — so we didn’t have to worry about whether or not we had access to semiconductors,” Biden said during a joint press conference with South Korean President Yoon Suk Yeol in the ...