The White House will host a summit on semiconductor chip manufacturing and commerce to address the global chip shortage that has disrupted supply chains across various industries. The summit, set for March 8th, will bring together leaders from the semiconductor industry, automakers, tech companies, and others to discuss ways to strengthen domestic semiconductor production and address supply chain vulnerabilities.
The semiconductor industry has been struggling with a shortage of chips due to a combination of factors, including pandemic-related disruptions to global supply chains and increased demand for chips from industries like automotive, consumer electronics, and gaming. This has led to production slowdowns and increased costs for companies that rely on chips for their products.
President Biden has emphasized the need to address the chip shortage and has called for investments in domestic chip manufacturing and research to ensure US competitiveness in the industry. In a recent executive order, he called for a 100-day review of supply chains for critical goods, including semiconductors, and urged the Commerce Department to explore ways to boost domestic chip production.
The upcoming summit is part of the Biden administration’s broader efforts to address supply chain vulnerabilities and promote domestic manufacturing. It follows a recent announcement of $37 billion in funding to boost domestic chip manufacturing and research, as well as efforts to address supply chain vulnerabilities in other critical sectors such as pharmaceuticals and batteries.
The summit will also provide an opportunity for industry leaders to discuss the challenges facing the semiconductor industry and potential solutions. Some have called for increased government investment in semiconductor research and development, while others have called for better coordination among industry players to ensure a steady supply of chips.
Overall, the summit represents a significant step in addressing the global chip shortage and strengthening the US semiconductor industry’s competitiveness in the long term.