The lobby group recently echoed President Biden’s calls for financing the CHIPS for America Act, which aims to increase U.S. chip production. The chip shortage has thus far not influenced other industries as much as automakers. However, that is beginning to change. Apple reports that it will shed around $3-$4 billion in Q2 sales.
The lobby group is joining the president and Biden’s trade secretary, Gina Raimondo, to boost domestic chip manufacturing and reduce the nation’s reliance on nations such as Taiwan, the world’s largest provider of semiconductor chips. The semiconductor chip deficit has severely impacted automotive manufacturing resulting in almost three million units of lost production. Ford has felt the sting of the chip shortage, as it cut over 70,000 vehicles from its manufacturing program last week amidst high demand for new Ford leases.
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