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Laura Tyson July 28, 2021 10:26
Semiconductors are an essential product. They are the foundation of everything from sophisticated weapons systems and critical infrastructure to a growing number of technologies used daily by consumers and businesses. Scarcities are thus felt widely, and the current semiconductor shortage has exposed gaps and vulnerabilities across the global supply system.
Today’s semiconductor shortage reflects a variety of factors – including significant pandemic-driven disruptions in both demand and supply and unilateral US trade restrictions with China. And any number of causes could trigger future shortages. For the sake of both national and economic security, the United States needs a multifaceted strategy for providing a competitive, resilient, secure, and sustainable (CRSS) supply of semiconductors. Such a strategy must address all parts of the industry, from design, fabrication, assembly, and packaging to materials and manufacturing equipment.