Joe Biden will tackle global chip shortage with executive order
The Biden administration is planning “aggressive actions” to alleviate the worldwide semiconductor lack, Bloomberg reports. The chip scarcity has actually impacted the automobile market and contributed to the deficiency of next-generation video gaming consoles.
President Biden “is anticipated to sign an executive order directing a government-wide supply chain review for vital goods in the coming weeks, with the chip shortage a main issue behind the probe,” the report states. Amongst the administration’s concerns: “recognizing choke points in supply chains” to alleviate current shortages.
In the longer term, the White House may likewise produce new incentives to bring chip production into the United States, according to CNBC. The magnates of chip makers, consisting of Intel and Qualcomm, have advised the Biden administration to money such initiatives, though it’s not clear exactly what form the rewards could take.