The Biden administration is working to help address global semiconductor chip shortage

The White House has pledged to help address the ongoing global semiconductor shortage, with President Joe Biden said to be signing an executive order to conduct a supply chain review along with developing a long-term strategy to avoid future shortages, via Bloomberg.

The cause of the current shortage is due to a mixture of factors: spikes in demand for consumer electronic products like laptops due to changes in lifestyle caused by the COVID-19 pandemic; slowdowns in chip production also caused by the pandemic; a business model in the semiconductor industry that sees most companies outsource chip production to firms like Taiwan Semiconductor Manufacturing Company (TSMC) instead of building the parts themselves; and lingering effects from...

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