U.S. Secretary of Commerce meets with semiconductor industry leaders about shortage

WASHINGTON – After her listening sessions Thursday with CEOs and senior executives from companies that represent the full scope of the semiconductor supply chain and customer base, U.S. Secretary of Commerce Gina M. Raimondo released the following statement:

“Semiconductors play a unique role in our economic and national security, and when semiconductor supply chains are disrupted, the impact is felt across the economy. Addressing the semiconductor shortage and strengthening the domestic supply chain is a priority of mine and for the Biden-Harris Administration. Today’s listening sessions were part of ongoing conversations, including the White House Semiconductor Summit with President Biden, National Security Advisor Jake Sullivan, Director of the National Economic Council Brian Deese, myself and CEOs and senior leaders from industries affected by the semiconductor shortage.

“Our goal for these conversations is to bring together a range of industry leaders to get more information on the impact the shortage is having on their industry, what are the short-term and long-term solutions that we can tackle together, and where specifically the Administration can be most helpful.

“These conversations continue to be incredibly useful – both to me and to industry leaders. Our hope is these conversations will lead to solutions not only for the near-term shortage, but also measures to strengthen the domestic supply chain in the long-term.

“Today was another opportunity to engage leaders from the semiconductor ecosystem and I will continue to bring stakeholders together as we work to address our supply chain challenges. On Monday, I am headed to Micron Technology in Manassas, Virginia to tour their fab, and I will be joined by Micron CEO Sanjay Mehrota, Senator Mark Warner and Senator John Cornyn.

“These conversations crystalize the need for the American Jobs Plan’s $50 billion investment to ensure that the government has the ability to monitor supply chain issues and the remit and tools to address them. Passing funding for the CHIPS Act must be a priority, and I am encouraged by the bipartisan group of U.S. Senators who are working to get this done.”

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