May 28, 2022
Trending Tags
Commerce Secretary Raimondo pushes domestic chip production amid semiconductor shortage

Commerce Secretary Raimondo pushes domestic chip production amid semiconductor shortage

U.S. Commerce Secretary Gina Raimondo referred to as Tuesday for Congress to totally fund an initiative aimed toward rising the domestic production of semiconductors amid a world shortage of important elements.

The Biden administration has confronted stress to deal with a chip shortage that has snarled production of vehicles, client digital gadgets comparable to computer systems and smartphones, and numerous different objects in current months. The availability chain points have led to a value surge for shoppers and compelled automakers comparable to Common Motors and tech corporations comparable to Apple to slash their manufacturing targets.

“The lack of domestic production in America of semiconductors poses not only an economic threat but a national security threat,” Raimondo stated throughout a press briefing. “We need Congress, the House, to pass the CHIPS Act or USICA [U.S. Innovation and Competition Act] as quickly as possible so that we can get to the business of making more chips in America.”

The U.S. Innovation and Competitors Act, which handed the Senate in June, contains $52 billion to spice up semiconductor analysis, design and manufacturing. Regardless of urging from Raimondo and different prime members of the Biden administration, the measure has but to obtain approval within the Home.

In September, the Commerce Division requested that main semiconductor producers within the U.S. and overseas, together with Samsung and the Taiwan Semiconductor Manufacturing Co., to submit details about their operations by Nov 8. U.S. officers stated the data on stock, supply methods and different variables would promote transparency and assist to determine provide chain bottlenecks.

Whereas the request was voluntary, Raimondo warned the Commerce Division might search to pressure disclosures if the businesses didn’t comply. The request for data drew criticism in China, the place state-run media shops described the initiative as an effort to extort data from chip corporations.

Raimondo dismissed the criticism, telling Fox Information’ Jacqui Heinrich that she was assured the related corporations can be cooperative on a voluntary foundation.

“We haven’t yet had an opportunity to go through all the submissions. I will tell you in the past couple of weeks, I have spoken to the CEOs of a number of semiconductor companies, including TSMC, asked them for their compliance and they all said they would be complying and sending us the information that we’re asking for,” Raimondo stated. 

“It is laughable to suggest it’s coercion because it’s voluntary. We’re asking them to comply with us. And the truth is, President Biden has said to us on his team, use every tool that we have to deliver relief for the American people around supply chains and so that’s what we’re doing,” she added.

Source link