WH Explores Ending FRIGHTENING Dependence on China
(TruthandLiberty.com) – The United States leads the world in computer chip design, yet 90% of the component’s manufacturing occurs in other parts of the world. Nearly 80% of semiconductor chips come from China, Taiwan, South Korea, and Japan. Experts say those figures put the US in a vulnerable high-risk situation ripe with potential supply chain disruptions.
On Monday, July 18, Treasury Secretary Janet Yellen said she hopes to reduce the United States’ dependence on the Chinese manufacturing of semiconductors. Yellen told Reuters she is deeply concerned about the Asian nation and its willingness to weaponize economics and chip exports. The secretary noted the US must diversify its supply sources of semiconductors to prevent adversaries from manipulating and threatening US security.
Yellen Pushes To End American Dependence On China For Computer Chips https://t.co/CpoMIofu57 pic.twitter.com/fwms3wMWGJ
— Daily Wire (@realDailyWire) July 18, 2022
Yellen is meeting with officials in Seoul, South Korea, to develop stronger ties and work to improve supply chain bottlenecks with important trade partners. She stated the improved relationship with South Korea would help combat inflation and counter China’s dishonest trade practices.
Several chip manufacturers committed to building production plants in the United States. Yet, they’re delaying fulfilling their commitments until Congress passes a proposed $52 billion CHIPS for America Act. Some say they may even back out if Congress fails to pass the legislation. Still, South Korean company LG, among others, is currently building a car battery plant and operating a home appliance facility in the United States.
Copyright 2022, TruthandLiberty.com
