US warns global chip shortage will likely last through 2022
a semiconductor supply chain report estimating that the global shortage will last until at least the second half of 2022."We aren't even close to being out of the woods" with supply problems, Department Secretary Gina Raimondo said.
Many companies are particularly sensitive to problems, too. The median chip inventory for a client company plunged from 40 days in 2019 to under five days in 2021. Even a relatively short disruption overseas could shut down an American factory, the Department said.and medical device producers, according to the report. Despite early claims, there wasn't evidence hoarding contributed to the shortfalls.
Officials concluded the government couldn't directly end the shortage. Private companies were"best positioned" to overcome challenges by increasing production, optimizing their designs and limiting the impact on their supply chains. However, Raimondo used this as an opportunity to plug President Biden'sthrough the US Innovation and Competition Act .
Factories resulting from USICA money wouldn't be ready for years, however, and the bill itself has been delayed. While it passed a crucial Senate vote, the House bill is only expected to surface by this week at the earliest. It could take longer to both clear the House and evolve into a final form Biden can sign into law. For now, the tech industry largely has to solve this dilemma on its own.
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