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This bill supports efforts to diversify semiconductor supply chains across the Western Hemisphere as a national security priority. It directs the State Department, working with the Commerce Department and other agencies, to provide diplomatic support and investments to help Latin American and other Western Hemisphere countries develop their own semiconductor production capabilities, including mining and processing of critical minerals as well as testing and packaging facilities. The legislation allows the U.S. International Development Finance Corporation to fund these projects in middle and high-income countries in the region, with the goal of reducing dependence on Asian supply chains and complementing existing U.S. semiconductor investments under the CHIPS and Science Act. Projects must be approved by the President and either produce significant benefits for poorer populations or counter efforts by strategic competitors like China to gain economic leverage in allied nations. The bill does not specify a funding amount or implementation timeline but establishes a policy framework for ongoing U.S. engagement with Western Hemisphere governments on semiconductor infrastructure development.

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