'Over the past few decades, we as a country have taken our eye off the ball and let chip manufacturing [go] overseas,' Commerce Sec. Gina Raimondo says.
, Secretary of Commerce Gina Raimondo told reporters on Wednesday, ahead of a speech she'll give on supporting domestic manufacturing.
In 2001, the U.S. had more than 300,000 semiconductor jobs but has lost one third of those in the past 20 years, Raimondo explained. She cited lower labor costs in other countries and a lack of private investments in manufacturing.Semiconductors are essential computer chips for numerous everyday items, such as refrigerators and dishwashers, cars and smartphones and more. They are primarily made internationally right now, largely in Taiwan.
"I think that when people needed product, whether it was chips or anything else that we couldn't get during the pandemic, and then realized how utterly reliant we are -- in the case of chips, on a single company in Taiwan; or in the case of other things, China -- we realized that's just not good for our security and stability," Raimondo said. "And so we've decided we had to make some changes.
But by 2030, the secretary wants to make America the largest producer of semiconductors in the world, and she said she intends to help do that by increasing production capabilities and increasing research and innovation.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Qualcomm announces software business around its supply chain chipsQualcomm Inc on Tuesday said it is launching a paid cloud software service to help companies that use its chips keep tabs on goods as they move through the supply chain.
Read more »
Chips Act Will Test Whether U.S. Can Reverse Semiconductor ExodusThe $53 billion program includes manufacturing incentives as well as research and development investments, part of an effort to keep a crucial industry in the U.S.
Read more »
Man arrested for eating $5 worth of chips dropped by convenience store thiefJoseph Braswell, 36, was charged with theft for picking up and eating two bags of chips stolen by someone else from a Memphis grocery store.
Read more »
Pretzels, potato chips and peanut butter are latest Krispy Kreme flavor starsKrispy Kreme teamed with Reese’s for a trio of new doughnut flavors that promise to be the perfect salty-sweet snack.
Read more »
Intel's 15th Gen Arrow Lake chips with 3nm process might not arrive until 2025Intel's 15th Generation Arrow Lake chips, which are expected to feature 3 nanometer process from TSMC, are likely delayed.
Read more »