Source: Content from Semiconductor Industry Observer (ID: icbank)
compiled from Reuters, etc.
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U.S. President Joe Biden met with executives from chipmakers including Samsung, Micron and others on Wednesday as part of an effort to push Congress to provide $52 billion in grants to chipmakers to ease semiconductor shortages.
Biden co-hosted the event with Commerce Secretary Gina Raimondo, who was joined remotely by Dr. Siyoung Choi, president of Samsung Electronics Co. Ltd.'s devices division, and Sanjay Mehrota, president and CEO of Micron Technology Inc., who stressed the need to take quick action to increase the supply of scarce chips.
Legislation on the issue has stalled in Congress, although a Senate aide told Reuters on Wednesday that Democratic Senate Leader Chuck Schumer and Senate Republican Leader Mitch McConnell were in talks about beginning the process of holding conferences on the bill during this working period.
“Today I urged the House and Senate to find the differences between the two versions of this bill and get it to my desk as quickly as possible,” Biden said Wednesday.
The House of Representatives narrowly passed a bill on Feb. 4 aimed at making the United States more competitive against China, in part by allocating $52 billion to boost U.S. semiconductor manufacturing.
In June, the Senate voted 68-32 to pass its own bill, which included $52 billion for chips and authorized $190 billion for U.S. technology and research to compete with China.
The funding includes $2 billion to incentivize production of "mature node" semiconductors used in the automotive industry, medical devices, agricultural machinery and some defense applications.
The ongoing industry-wide chip shortage has disrupted production in the automotive and electronics sectors, forcing some companies to scale back operations.
But there has been little progress in resolving the differences between the two pieces of legislation, and on Tuesday a bipartisan group of more than 140 U.S. lawmakers urged congressional leaders to move forward on funding.
Other participants in Wednesday's meeting included Indiana Gov. Eric Holcomb and Michigan Gov. Gretchen Whitmer, as well as White House economic adviser Brian Deese. Executives from Whirlpool, HP, Medtronic and Cummins also attended.
At the same time, Raimondo also gave an interview to Time magazine.
Semiconductors, she noted, are unique products that are everywhere. Chips are everywhere: the phone you’re using to record this, your computer, the speakerphone I’m talking to you on in your car, and so on. The biggest factor driving up car prices is the lack of chips. The auto industry produced about 7.5 million fewer cars last year than they predicted simply because they couldn’t get chips. The role of chips in driving inflation and disrupting our supply chain cannot be overestimated.
She also stressed that sanctions on Russia would not affect chip supplies because Russia produces almost no chips. She also mentioned that the United States and dozens of other countries around the world - all of Europe, the United Kingdom, South Korea, Canada, New Zealand, Australia - have said they will not ship any chips to Russia. This may mean bringing in more supplies.
She said that fundamentally, more chips need to be made in the United States. President Biden made this very clear in his State of the Union address the other night. The semiconductor industry was invented in the United States. There was a time, not too long ago, when we made almost 40% of the world's chips in the United States. Now we only account for 12%, which means that we are very dependent on chips from other countries. So what the CHIPS Act does is it allows us to incentivize companies to build manufacturing facilities in the United States to make more chips in the United States.
As for when this bill will be passed, Raimondo expressed optimism that it will be sent to the president's desk sometime this spring. Because it has broad bipartisan support. The president has also asked them to get it to him as soon as possible. So she thinks it will happen this spring.
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