American semiconductor producers, automotive manufacturers and tech companies met with President Joe Biden and other cabinet members Monday afternoon to discuss the ongoing semiconductor chip shortage.
The White House stated the shortage is a “top and immediate” priority for Biden and his senior advisors regarding economic and national security. The shortage has affected the RV industry.
Monday’s virtual event included National Security Advisor Jake Sullivan and Director of the National Economic Council Brian Deese, in addition to Commerce Secretary Gina Raimondo.
“This is an issue that has broad support in U.S. Congress,” Biden said. “We have talked about whether or not we are doing anything in terms of bipartisan. Well, we are. Both sides of the aisle are strongly supportive of what we are proposing, and I think we can really get things done for the American people.”
Senior leaders and representatives from companies such as Cummins, Google-parent Alphabet, Ford, AT&T, Intel, South Korea’s Samsung and Taiwan’s TSMC joined the summit to discuss the chip shortage’s impact with the White House.
Participants discussed short and long-term approaches to address the situation, emphasizing improved transparency in the semiconductor supply chain to mitigate current and future challenges with the forecasted demand.
Biden said he received a bipartisan letter from 23 senators and 42 House members supporting a proposed “Chips for America” program.
“Even before this this meeting today, we have also proposed major investments,” Press Secretary Jen Psaki said. “That is something we feel the federal government could also do. We have called on Congress to invest $50 billion in semiconductor manufacturing and research, as called for in the bipartisanship CHIPS Act.
“We have also called for additional funding,” Psaki added. “There are also bipartisan proposals, I should say, like an investment of $50 billion in the National Science Foundation, which would create a technology directorate that will focus on fields like semiconductors and advanced computing to help increase our competitiveness at home.”
Biden noted “aggressive” investing in semiconductors and batteries.
“China and the rest of the world are not waiting, and there is no reason why Americans should wait,” Biden said. “…That is what they are doing and others, so must we. We are seeking a significant investment in this piece of legislation. And it is important, but we know it is not sufficient.”
Monday’s virtual summit included a discussion about the president’s infrastructure investments in the American Jobs Plan, which aim to strengthen U.S. competitiveness and national security by building the “infrastructure of tomorrow” and strengthening supply chain resilience. The White House stated the goal is ensuring the U.S. remains a global leader in critical technologies and the transition to a “clean energy future.”
“Our view is that this is certainly something where we need to work closely with industries,” Psaki said. “We need to work closely with Congress — Democrats and Republicans. There is agreement on this issue being one that is impacting industries across the country. Also, with allies and partners on how we can prevent the shortage from happening in the future.”
