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Biden tells U.S. executives to invest and lead in computer chips

 


President Biden told 19 leaders in the tech, chip and automotive industries that the United States has not made big investments to stay ahead of its global competitors.

President Joe Biden took advantage of a virtual meeting with business executives about a global semiconductor shortage to push his $ 2.3 trillion infrastructure plan on Monday, telling them that the United States United are expected to be the world leader in computer chips.

“We need to build the infrastructure of today, not fix the infrastructure of yesterday,” he told the group of 19 leaders from the tech, chip and automotive industries. “China and the rest of the world are not waiting and there is no reason for the Americans to wait.”

He said the country has not made big investments to stay ahead of its global competitors and needs to step up its game.

Biden made an appearance at the meeting between administration officials and business leaders held to discuss the development of a stronger US computer chip supply chain. The meeting took place as the global chip shortage continued to plague a wide range of industries.

CEOs of AT&T, Dell, Ford, General Motors, Stellantis (formerly Fiat Chrysler), Intel, Northrop Grumman and others were scheduled to attend.

But industry experts say there is little they can do to stem the shortage, which has delayed a new iPhone and forced automakers to temporarily shut down factories as they lack the multiple computers needed to run the engines. , transmissions, brakes and other essential features.

Instead, Biden touched on developing an American supply chain for chips, as most are made in Asia and shipped to the U.S. In February, he ordered a supply chain review and is committed to working with international partners to ensure stable supplies.

Wedbush analyst Daniel Ives said there was not much that could be done immediately to end the current problem. “It could change things over the next three to five years, but at the moment there are no structural changes that could alleviate the shortage,” he said.

The shortage has already made it harder for schools to buy enough laptops for students forced to learn at home, delayed the release of popular products, and created insane difficulties in finding the latest video game consoles.

But things have gotten worse in recent weeks, especially in the auto industry, where factories are closing because there aren’t enough chips to finish building vehicles that turn into rolling computers.

The coronavirus pandemic sparked a cascade of events that led to the problems. Chip factories had to close early last year, especially abroad, where most transformers are manufactured. By the time they reopened, they had a backlog which was compounded by unforeseen demand. Demand for personal computers, for example, has increased as government lockdowns have forced millions of office workers and students to work or attend classes remotely.

Strong demand for consumer electronics has squeezed the auto industry. Chipmakers have stepped up the pressure by redesigning factory lines to better serve the consumer electronics market, which generates far more revenue for them than automobiles.

After eight weeks of shutdown caused by a pandemic in the spring, automakers have started reopening factories earlier than expected. But they found that chipmakers weren’t able to quickly flip a switch and make the most rugged processors needed for cars. Industry executives say the shortage is expected to start ending in the third quarter of this year.

It’s simply a symptom of a larger problem in the United States which is too dependent on Asia for critical parts such as semiconductors, said Ives, who has long called the meeting. “I think now it’s just exposing the structural issues as well as some of the potential national security issues that the United States faces, given our dependence on Asia,” he said.

The United States owns only 12 percent of the world’s semiconductor plant capacity, up from 37 percent in 1990, according to the Semiconductor Industry Association.

The shortage comes as the auto industry accelerates its plans to move away from internal combustion vehicles, shifting more towards those powered by batteries.

As part of his $ 2.3 trillion infrastructure plan, Biden wants to spend $ 174 billion over eight years on electric vehicles. That figure includes incentives for consumers, subsidies to build 500,000 charging stations, and money to develop US supply chains for the parts and minerals needed to make batteries. Biden also wants Congress to invest $ 50 billion in semiconductor manufacturing and research.

Krisher contributed from Detroit.

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