Semiconductors are at the heart of the devices we use every day, from smartphones and computers to cars. Often called “the new oil” for their critical role in modern technology and economic growth, semiconductors are vital to the national and economic security of both the United States and Japan. However, their highly complex, globally interconnected supply chain is vulnerable to disruptions, such as geopolitical tensions and natural disasters. What is the current state of the semiconductor industry and its supply chains in the United States and Japan? Are recent efforts to strengthen these supply chains leading to greater resilience? In this event, industry experts discuss the latest developments in semiconductors and the supply chain landscape in the United States and Japan, addressing both current and emerging challenges and highlighting opportunities for U.S.-Japan collaboration to build stronger, more reliable supply chains.