Andres Manuel Lopez Obrador plans to seek Joe Biden’s support to find financing for Mexican solar projects and integrate Mexican suppliers into U.S. semiconductor plants when the two presidents meet at a summit with Canadian Prime Minister Justin Trudeau next week. (Bloomberg)

Talking point: The August 2022 U.S. CHIPS and Science Act put up US$52.7-billion in semiconductor R&D and production subsidies, and giants in the sector have begun building foundries worth billions within the country. Mexico isn’t the only U.S. ally hoping to get in on the reshoring of critical components; Innovation Minister François-Philippe Champagne spent time during his travels last year pitching Canada as a player in semiconductor supply chains. Hardware makers are also looking closer to home, with both Dell and HP reportedly looking to phase out chips made in China. Meanwhile, stock analysts expect Samsung, a major chipmaker, to post a year-over-year profit drop because of the falling price of memory.