The White House held a summit of semiconductor executives today, with TSMC, Samsung, Intel and 19 other company executives invited. U.S. President Joe Biden said at the summit that the Chinese Communist Party plans to dominate the semiconductor supply chain, the United States should strengthen the domestic semiconductor industry, investment can no longer wait.
The global chip shortage problem is serious, in order to strengthen the semiconductor technology supply chain, the White House today held a semiconductor and supply chain toughness executive summit, hosted by White House national security adviser Jake Sullivan, White House economic adviser Brian Deese and Commerce Secretary Raimondo (Gina Raimondo).
In addition to TSMC Chairman Deyin Liu, the top executives of 18 companies, including General Motors, Ford Motor, auto group Stellantis, chip industry leader Intel Corp and Samsung, also participated in the meeting via video message.
President Joe Biden (Joe Biden) said at the beginning of the meeting speech, today and from around the world technology manufacturing leaders gathered to talk about how to strengthen the U.S. domestic semiconductor industry, to protect the U.S. supply chain, and his semiconductor investment plan has the United States cross-party strong support.
Biden noted that he received a letter today from 23 senators and 42 representatives from both parties in support of the “Chip Made in America Program” (CHIPS for America Program). The letter mentioned the Chinese Communist Party’s plan to significantly reorganize and dominate the semiconductor supply chain, and how much money will be injected to achieve the goal.
Biden stressed that he has repeatedly said in the past that the Chinese Communist Party and the rest of the world are not waiting, and there is no reason for Americans to wait. The United States is currently investing large sums of money in semiconductors, batteries and other areas, “which is what others are doing, and we must do.
In response to his recent proposal to scale up to at least $2 trillion “American Jobs Plan” (American Jobs Plan), Biden said the plan is part of the effort to reinvigorate U.S. manufacturing and protect the domestic supply chain, and will restore the past to a healthy way to invest in research and development, but not only that.
According to the “American Jobs Plan” released by the White House on March 31, Biden believes that the United States must strengthen the manufacturing supply chain of key products, in addition to domestic manufacturing to meet the challenges of today’s technology and products, but also to seize future business opportunities.
Biden called on Congress to invest $50 billion in semiconductor manufacturing and research and development, and another $50 billion in the “Chip Made in America Act,” which was passed with the National Defense Authorization Act for Fiscal Year 2021 (NDAA FY21) package and received cross-party support. 50 billion to establish a new office under the Department of Commerce to monitor domestic industry production capacity and capital investment to support the manufacture of critical products.
White House spokesman Jen Psaki told the media at the summit today that one of the reasons Biden decided to appear at the summit was to understand directly from the corporate side the impact of the chip shortage and what can be done to most effectively assist them in weathering the current difficulties.
But Psaki pointed out that today’s meeting is only a part of the discussion of short-term and long-term solutions, she does not expect to make any decisions, or related matters announced.
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