US White House Focuses on Whole-of-Government Effort to Resolve Semiconductor Shortage Crisis

[Image source=Reuters Yonhap News]

[Asia Economy New York=Correspondent Baek Jong-min] The White House of the United States has stated that it is focusing on resolving the semiconductor shortage issue.

White House Press Secretary Jen Psaki said at a briefing on the 8th (local time), "The federal government is placing great emphasis on the semiconductor shortage issue," adding that the government as a whole is focusing significantly on this matter at the highest level.

Psaki also said that Jake Sullivan, White House National Security Council (NSC) Advisor, and Brian Deese, National Economic Council (NEC) Director, will preside over a meeting on this issue on the 12th.

According to Press Secretary Psaki, the two will meet with U.S. companies to discuss the semiconductor chip shortage crisis, but it is not expected that immediate results or announcements will come from the meeting.

The White House did not disclose which semiconductor companies would attend the meeting on that day either. According to industry sources and foreign media, U.S. semiconductor companies including Samsung Electronics, Intel, GlobalFoundries, and automobile company General Motors (GM) have been invited to this meeting.

President Biden has already emphasized the semiconductor shortage crisis by directly presenting semiconductor chips while announcing a supply chain expansion strategy, heightening U.S. vigilance on the issue. The U.S. government also announced a massive infrastructure budget plan last week that includes semiconductor investments.

President Biden also mentioned the day before that "Senate Majority Leader Chuck Schumer of the Democratic Party and Senate Minority Leader Mitch McConnell of the Republican Party will jointly introduce bipartisan legislation to stabilize the semiconductor industry," indicating that semiconductor development strategies are being sought not only by the government but also at the congressional level.

On the same day, GM announced the suspension of operations at its North American plants due to the semiconductor shortage, showing that the damage to the automobile industry caused by the semiconductor shortage crisis is increasing.