Biden allocates a considerable amount to stimulate chip production. It concerns an amount of no less than $ 37 billion. He said that in a speech on Wednesday.
Biden wants more computer chips
US President Joe Biden says this because there is a shortage of semiconductors (an important part of computer chips). That has forced American car makers and other manufacturers to cut production. Something that Biden absolutely does not want because he is a champion of electric driving.
The scarcity, exacerbated by the corona pandemic, was also the subject of a discussion Wednesday between Biden and a bipartisan group of US lawmakers in the White House.
This afternoon, I’m signing an executive order to create more resilient and secure supply chains for critical and essential goods. Tune in. https://t.co/7LyrNa38H5
— President Biden (@POTUS) February 24, 2021
Biden: ‘now action!’
Biden said in his speech, “I mandate my officials to work with industry leaders to find solutions to the semiconductor shortage.”
The White House clarifies that Biden’s comments related to measures aimed at increasing the manufacturing capacity of chips contained in this year’s National Defense Authorization Act, but requiring a separate credit process to secure funding. Ultimately, how America deals with this has consequences for the rest of the world. America is a major producer of computer chips.
— Bloomberg Quicktake (@Quicktake) February 25, 2021