The lack of chips that threatens to block the recovery in the US

by time news

The United States needs to invest more in semiconductors. This was stated by the president Joe Biden who virtually met the CEOs of 19 companies, including those of General Motors, Alphabet and Intel to discuss the problem of the lack of chips that risks blocking the recovery of production, especially in the automotive sector.

“We led the world during the middle of the twentieth century, we led it at the end of the last century, we will come back to drive it now“Biden said.” I have been saying this for some time, China and the rest of the world are not waiting and, therefore, there is no reason for the Americans to wait, “he added.

For this, the president underlined, “investiremo aggressivamente“in areas like semiconductors and batteries. Others are doing it, we have to do it too.”

Temporary closure of factories

The meeting, which Biden briefly attended, was led by National Security Advisor Jake Sullivan, Director of the National Economic Council, Brian Deese, and Secretary of Commerce Gina Raimondo.

The shortage of semiconductors has resulted in a blockage of supply chains and especially the car companies in crisis. Ford, General Motors and other manufacturers have had to temporarily close their factories or cut production.

Also present at the meeting was Mark Liu, executive president of Taiwan Semiconductor Manufacturing Company (Tsmc), one of the world’s leading groups in the supply of vital electronic components to the industry.

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