Why Raimondo says U.S. cannot wait to ramp production of semiconductor chips

Taylor — Commerce Secretary Gina Raimondo used a union hall and the Detroit Economic Club Monday to push Biden administration-backed legislation to boost domestic manufacturing of semiconductor chips, an initiative she cast as crucial for the economic health of the nation as the auto industry keeps battling the component shortage.

“Here’s the reality: We can’t wait, because the rest of the world isn’t waiting," she said. "China, Taiwan, the EU, other countries all around the world, they are not waiting. They are incentivizing and subsidizing the production of chips right now and have been for a long time.”

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