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Biden signs executive order to review semiconductor shortage
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IANS | 25 Feb, 2021
US President Joe Biden has signed an executive order to bolster supply
chains in four key areas, including semiconductor chips over a global
shortage that has hampered the production of automobiles and smartphones
for the tech giants.
The executive order directs the government
to conduct 100-day reviews of supply chains in four sets of products,
including computer chips and large capacity batteries, like those used
in electric vehicles (EVs).
"This is about making sure the United
States can meet every challenge we faced in this new era of pandemics,
but also in defence cybersecurity, climate change, and so much more,"
Biden said during a press conference on Wednesday.
Supply chain
issues faced at the onset of the Covid-19 and shortfall of personal
protective equipment felt at that time partly prompted the executive
order.
The development comes at a time when manufacturing
shortages have been reported in the auto and tech industries due to the
pandemic.
While the new executive that Biden plans to sign will be another step to boost made in the US goods, it will not target China.
The
Biden administration after a review has found "deep problems" with the
US policies towards China pursued during the Trump administration.
Companies
like Apple, AMD, Sony, and Qualcomm have raised concern over chip
shortages, including parts for iPhones and consoles like the PlayStation
5.
Apart from semiconductors, the executive order also aims to
bolster supply chains in areas including pharmaceuticals and rare earth
minerals.
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| Customs Exchange Rates |
| Currency |
Import |
Export |
US Dollar
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Euro
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| As on 13 Aug, 2022 |
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