Biden Administration wants to sign away the chip shortage

Posted on Friday, February 12 2021 @ 10:24 CET by Thomas De Maesschalck
Bloomberg reports the Biden Administration is looking at options to tackle the global chip shortage. The White House will try to identify and alleviate chokepoints for critical goods. In the coming weeks, an executive order is expected that will include a comprehensive review of supply chains. Besides frustrating gamers and computer enthusiasts, the shortages are also having a big impact on several important economic industries like car manufacturing.
The Biden administration is working to address the global semiconductor shortage that has caused production halts in U.S. industries including autos, White House Press Secretary Jen Psaki said. The administration is identifying choke points in supply chains and discussing an immediate path forward with businesses and trading partners, Psaki told reporters at the White House on Thursday.
Longer-term, the White House may also create incentives to bring back chip production to the US. Yesterday, executives from 21 chip firms, including Intel, AMD, and Qualcomm, wroote the president to ask him to support domestic production. Among other things, the letter highlights that the US' share of global chip manufacturing has dropped to 12 perent from 37 percent in 1990.

About the Author

Thomas De Maesschalck

Thomas has been messing with computer since early childhood and firmly believes the Internet is the best thing since sliced bread. Enjoys playing with new tech, is fascinated by science, and passionate about financial markets. When not behind a computer, he can be found with running shoes on or lifting heavy weights in the weight room.

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