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Biden urges Congress to pass a bill to address semiconductor shortages

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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.

Sources

1/ https://Google.com/

2/ https://www.cnn.com/2022/01/21/politics/semiconductor-shortages-biden-administration/index.html

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