Intel, Micron, GM, A&T on Roster for White House Chips Meeting
(Bloomberg) -- President Biden’s top economic and national security advisers will host more than a dozen chief executive officers on Monday to discuss the administration’s $2.25 trillion infrastructure plan and the global semiconductor shortage, according to a White House official.
National Economic Council director Brian Deese and National Security Adviser Jake Sullivan will host the meeting, and Commerce Secretary Gina Raimondo will also participate.
Companies invited to join the administration officials include General Motors Co., Ford Motor Co., Stellantis NV, Google’s parent company Alphabet Inc., Dell Technologies Inc., Intel Corp., Medtronic Plc, Northrop Grumman Corp., HP Inc., Cummins Inc., Micron Technology Inc., Taiwan Semiconductor Manufacturing Co., AT&T Inc. and Samsung Electronics Co.
A White House official said the agenda will include proposals in what Biden calls the “American Jobs Plan” to support the auto industry’s transition to clean energy, job creation and ensuring U.S. economic competitiveness.
“The president is deeply committed to ending the silos between domestic and foreign policy – and the semiconductor shortage is a perfect example of an urgent economic and national security priority for the Biden administration,” Sullivan said in a statement. “The shortage is impacting the lives of American workers and families as plants sit idled. And trying to address supply chains on a crisis-by-crisis basis creates critical national security vulnerabilities.”
The Biden administration is in the middle of a 100-day supply chain review -- including for semiconductors -- and has called on Congress to pass legislation that would fund chips research and development. The results of the review won’t be made public until June and Monday’s meeting will inform the outcome, White House Press Secretary Jen Psaki said Thursday.
Intel, Samsung and TSMC have all announced plans to build factories in the U.S., though none of the companies has started construction and the timeline for production at the new plants is potentially years away.
Deese said the pandemic exposed economic vulnerabilities and the importance of robust and reliable supply chains.
“This summit reflects the urgent need to strengthen critical supply chains and strategically position the U.S. economy to lead the 21st century, and we look forward to partnering with our key stakeholders in this effort,” he said in a statement.
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