White House to zero in on chip shortage in meeting with company officials
WASHINGTON (Reuters) – Senior White House officials will meet on Monday with top executives from nearly 20 major companies to discuss a global semiconductor shortage that has roiled the automotive industry and technology firms.
The White House meeting is billed as the “CEO Summit on Semiconductor and Supply Chain Resilience” and will include White House national security adviser Jake Sullivan and National Economic Council Director Brian Deese.
As of midday Friday, 19 major companies had agreed to send executives, including General Motors Chief Executive Mary Barra, Ford Motor Chief Executive Jim Farley and Chrysler-parent Stellantis NV CEO Carlos Tavares.
Deese said in a statement the “summit reflects the urgent need to strengthen critical supply chains.”
Commerce Secretary Gina Raimondo will also take part, as well as executives from GlobalFoundries, PACCAR, NXP and Taiwan Semiconductor Manufacturing Company, AT&T, Samsung, Google-parent Alphabet, Dell Technologies, Intel Corp, Medtronic, Northrop Grumman, HP, Cummins and Micron.
In case you ddnt know, Trump actually hurt the semiconductor industry with his bogus china trade war (which he lost) and he did so because his big CON — China to buy 200 billion in us agriculture — FAILED MISERABLY
How Trump’s export curbs on semiconductors and equipment hurt the US technology sector
“President Donald Trump’s much-touted “phase one” trade agreement with China is falling well short of its goal. Under the deal, Trump pledged that China would purchase an additional $200 billion of US exports over 2020 and 2021. With two-thirds of 2020 now in the books, China has imported less than one-third of the goods that Trump assured Americans it would buy this year. One rare exception are high-tech products like American semiconductors and chipmaking equipment, which have managed to maintain robust export sales despite the pandemic and anti-China rhetoric of a US election campaign.
That bright spot has suddenly dimmed, however, and not because of China. The Trump administration is remaking the US export control regime in a way that could lead to sharp cuts in foreign sales of both of these American industries. Elements of the new regime may be well-motivated, seeking to mitigate legitimate national security risks. Other links to national security are, at best, more tenuous and will certainly come at considerable economic cost to American companies.
The administration’s newest restrictions do more than shut off technology exports to China. The policy limits some American sales to third countries, even when they are US military allies. American semiconductor toolmakers cannot sell their equipment to major semiconductor manufacturers in South Korea or Taiwan, for example, if companies there want to use American tools to make anything to sell to Huawei, the Chinese telecommunications company targeted by the administration as a national security threat.”