Biden To Review Key Supply Chains After Semiconductor Crunch
Mohammad Ali (@ChaudhryMAli88) Published February 24, 2021 | 08:47 PM
President Joe Biden will order a review of critical US supply chains in the wake of a semiconductors shortage that has curtailed US auto production, the White House announced Wednesday
New York, (APP - UrduPoint / Pakistan Point News - 24th Feb, 2021 ) :President Joe Biden will order a review of critical US supply chains in the wake of a semiconductors shortage that has curtailed US auto production, the White House announced Wednesday.
Under an executive order to be signed later Wednesday, Biden will order a 100-day review across Federal agencies on semiconductors and three other key items: pharmaceuticals, critical minerals and large capacity batteries, according to White House fact sheet.
Biden also will commission a more in-depth one-year review on a broader set of sources for key inputs for additional industries to analyze risks to critical infrastructure and review steps to make supply chains more resilient.
"While we cannot predict what crisis will hit us, we should have the capacity to respond quickly in the face of challenges," the White House said.
"The United States must ensure that production shortages, trade disruptions, natural disasters and potential actions by foreign competitors and adversaries never leave the United States vulnerable again.
" General Motors and Ford each have trimmed auto production at US plants due to the semiconductor shortage, which stems in part from outsized demand for personal electronics during the pandemic.
Leading business and technology groups have urged Biden to enact investment tax credits to encourage the building of more US semiconductor manufacturing plants, in a February 18 letter to the president signed by the US Chamber of Commerce, the Semiconductor Industry Association and the Alliance for Automotive Innovation, among others.
"While the governments of our global competitors have invested heavily to attract new semiconductor manufacturing and research facilities, the absence of US incentives has made our country uncompetitive and America's share of global semiconductor manufacturing has steadily declined," the letter said.
"To be competitive and strengthen the resilience of critical supply chains, we believe the US needs to incentivize the construction of new and modernized semiconductor manufacturing facilities and invest in research capabilities."
Related Topics
Recent Stories
BISP embraces E-procurement: launches inaugural tender
Modi govt broken all records of oppression to win elections: President AJK
PM for further strengthening economic, trade ties with Turkiye
Administrative machinery actively checking price, weight of roti/naan: minister
Advisor asks tourists to avoid visiting Kaghan during current rains
Business community indebted to Ahsan Zafar for his unprecedented services: Yousu ..
Three Filipinos dead in UAE floods: officials
DC Larkana chairs meeting to review strategy for anti-Polio drive
Registration process under BISP continues in Sargodha
QAU announces scholarships for KP students
Prisoner commits suicide in Timergara Jail
RCB takes action against selling expired food items
More Stories From World
-
Three Filipinos dead in UAE floods: officials
10 minutes ago -
Global calls for calm after reported Israeli strike on Iran
5 minutes ago -
Iran blasts rattle global markets
35 minutes ago -
H5N1 strain of bird flu found in milk: WHO
35 minutes ago -
Court aims to wrap Trump jury selection ahead of opening arguments
1 hour ago -
Croatia top court bars president from becoming next PM
1 hour ago
-
Hindu nationalist Modi the favourite as India votes
2 hours ago -
French police surround Iran consulate in Paris: security source
2 hours ago -
Blinken says US 'not involved in any offensive operation'
2 hours ago -
Beijing half marathon runners stripped of medals after controversial finish
3 hours ago -
Sudanese rue shattered dreams as war enters second year
3 hours ago -
Eight killed in Russian strikes
3 hours ago