Biden: US share of global chip production has fallen to ten percent
Biden says US share of global chip production has dropped from 40 percent to 10 percent
WASHINGTON, Feb 8 – PRIME US President Joe Biden said in his annual address to Congress that the United States has lost its share of global microchip production over several decades – according to the head of state, it has decreased from 40% to 10%.
“Semiconductors, the little fingerprint-sized computer chips that power everything from mobile phones to cars and more. These chips were invented right here in America. Our country used to produce almost 40% of all the chips in the world,” Biden said on Tuesday evening.
At the same time, according to him, over the past few decades, the US “lost all its advantage”, resulting in a reduction in chip production from 40% to 10%. “We all saw what happened during the pandemic (coronavirus), when overseas chip factories closed,” the American leader recalled.
Last summer, Biden signed into law a $52.7 billion bailout for US semiconductor manufacturers to strengthen its position in competition with China.