WASHINGTON: In order to discuss the global semiconductor shortage and its impacts that has severely affected American automakers, US President Joe Biden and other White House officials met executives from 19 major companies.
"Participants emphasized the importance of improving transparency in the semiconductor supply chain to help mitigate current shortages and improving demand forecasting across the supply chain to help mitigate future challenges," the statement said.
White House said in a statement that "The semiconductor shortage, which is impacting American workers and families right now, is a top and immediate priority for the President and his senior most advisors on economic and national security,"
They also discussed the importance of encouraging additional semiconductor manufacturing capacity in the US to make sure the country never again faces shortages, Xinhua news agency reported citing the White House as further saying.
During the meeting, Biden said that he has broad support in Congress to fund the domestic semiconductor industry. "In fact, today, I received a letter from 23 senators, 42 House members, Republicans and Democrats, supporting the CHIPS for America program," he said.
John Neuffer, president and CEO of the Semiconductor Industry Association, said on Monday that funding the chip manufacturing incentives and research investments will "strengthen US semiconductor production and innovation across the board so all sectors of our economy have the chips they need".
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