Readout of White House CEO Summit on Semiconductor and Supply Chain Resilience

by Joseph Robinette Biden

Today, President Joseph R. Biden, Jr. briefly joined National Security Advisor Jake Sullivan, Director of the National Economic Council Brian Deese, and Secretary of Commerce Gina Raimondo during a virtual event with CEOs and senior leaders from industries affected by the semiconductor shortage — including representatives from American semiconductor producers, tech companies, automotive manufacturers, and other companies that use semiconductors.

The semiconductor shortage, which is impacting American workers and families right now, is a top and immediate priority for the President and his senior most advisors on economic and national security. The White House heard directly from industry leaders on the impact of the chip shortage and discussed short and long-term approaches to address it. Participants emphasized the importance of improving transparency in the semiconductor supply chain to help mitigate current shortages and improving demand forecasting across the supply chain to help mitigate future challenges. They also discussed the importance of encouraging additional semiconductor manufacturing capacity in the United States to make sure we never again face shortages. Finally, they discussed how the President’s infrastructure investments in the American Jobs Plan strengthen America’s competitiveness and national security by building the infrastructure of tomorrow and strengthening supply chain resilience — ensuring that the United States remains a global leader in critical technologies and the transition to a clean energy future.