The shortage of semiconductors has been a persistent source of concern for the Biden administration. The shortage of chips essential to the production of smartphones, medical devices, automobiles, and many household appliances hindered the government’s economic recovery efforts from the Covid-19 outbreak and contributed in particular to the increase. Car prices account for one-third of the annual price increase in the core consumer price index.
“Let’s achieve another historic bipartisan legislation,” Biden said in a statement at the White House. “Let’s do it for our economic competitiveness and national security. Let’s do it for cities and towns all over the United States working to get part of the global economic package.”
Intel announced on Friday that it would build a new $ 20 billion chip manufacturing facility outside Columbus, Ohio, and the president praised the new factory as a “historic investment.”
The president said the new factory would create 7,000 construction jobs and an additional 3,000 permanent jobs. Intel’s announcement is the latest in a series of efforts to expand domestic semiconductor manufacturing.
“I could always say 25 or 30 years ago to be able to say that it was made in Ohio and made in the United States, but that’s about it,” Biden said.
“We are investing in American workers. We will stamp everything we can do with’Made in America’, especially these computer chips,” he said.
Biden lamented the decline of the American semiconductor manufacturing industry and the number of companies that have moved their businesses and jobs abroad in recent decades. Biden said the United States is currently investing less than 1% of its gross domestic product (GDP) in research and development, emphasizing that China outperforms the United States in this area.
“People at home may wonder why it’s so big to make something as small as a stamp. Why is it so important? Well, semiconductors are in almost everything in our lives. It’s a small computer chip that powers things like your car, your refrigerator, your washing machine, hospital equipment, the internet, the power grid, etc. “Biden said.
“After all, this is about national security, economic security, and work,” Biden added.
The president said the Covid-19 pandemic exacerbated manufacturing problems, leading to lower supply and delayed deliveries of cars and dishwashers.
“We find that we are really behind the curve because of low supply. Prices are rising,” Biden said.
Consulting firm AlixPartners estimates that the cost of a global chip shortage has lost $ 210 billion in sales to the automotive industry alone.
According to a fact sheet shared with CNN, the White House has worked with Congress, international partners, and the private sector “to expand US chip manufacturing capacity.”
Commerce Secretary Gina Raimondo praised Intel’s announcement, saying, “It’s a big win for Intel, American manufacturing, and American consumers who can expect low prices by bringing back in-house production of semiconductors that sustain the economy.” rice field. Friday.
According to estimates by the Semiconductor Industry Association, the industry has announced nearly $ 80 billion in new investment in the United States from the beginning of 2021 to 2025. This includes a $ 17 billion Samsung plant in Texas and a $ 30 billion investment from Texas Instruments.
At the October summit on the margins of the G20 summit in Rome, the president raised the issue of global semiconductor shortages. At the meeting, Biden argued that the way to resolve the supply bottleneck was to end the Covid-19 pandemic, which was “the ultimate key to unleashing the turmoil.”
The Pentagon is also using the Defense Production Act to strengthen the supply chain of key defense-related semiconductors.
This story was further developed and updated on Friday.
The mention sources can contact us to remove/changing this article
What Are The Main Benefits Of Comparing Car Insurance Quotes Online
LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos
to request, modification Contact us at Here or [email protected]
- Will announce the date of the long march from May 25 to 29: Imran Khan May 20, 2022
- Akshay Kumar says ‘pan-India word meri samaj ke bahar hai’ as he weighs in on Bollywood vs South cinema debate May 20, 2022
- Anne Hathaway talks about her ethereal white dress in her Cannes Film Festival debut May 20, 2022
- Singapore Growhub has a five-year partnership with FIPWA to build a Southeast Asian food bowl May 20, 2022
- Evidence directly links Trump to lawyers’ scheme to nullify election May 20, 2022