'Over the past few decades, we as a country have taken our eye off the ball and let chip manufacturing [go] overseas,' Commerce Sec. Gina Raimondo says.
, Secretary of Commerce Gina Raimondo told reporters on Wednesday, ahead of a speech she'll give on supporting domestic manufacturing.
In 2001, the U.S. had more than 300,000 semiconductor jobs but has lost one third of those in the past 20 years, Raimondo explained. She cited lower labor costs in other countries and a lack of private investments in manufacturing.Semiconductors are essential computer chips for numerous everyday items, such as refrigerators and dishwashers, cars and smartphones and more. They are primarily made internationally right now, largely in Taiwan.
"I think that when people needed product, whether it was chips or anything else that we couldn't get during the pandemic, and then realized how utterly reliant we are -- in the case of chips, on a single company in Taiwan; or in the case of other things, China -- we realized that's just not good for our security and stability," Raimondo said. "And so we've decided we had to make some changes.
But by 2030, the secretary wants to make America the largest producer of semiconductors in the world, and she said she intends to help do that by increasing production capabilities and increasing research and innovation.
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