US President Joe Biden to issue an executive order to tackle global chip shortage

US President Joe Biden is planning an executive order to help in the tech industry's plight on chip shortage. Will this solve the shortage?

The US Government is going to review the issue of chip shortage

Chip shortage is a critical issue for the US Government

Since January, the tech industry of the world has been massively affected by chip shortage in all industries like in smartphones, tablets and even automobiles.

The chip shortage was attributed to former President Trump's administration's aggressive restrictions on Chinese companies that include semiconductor chains such as SMIC. This move resulted in the automobile industry's chip shortage that prompted several assembly lines to be shut down. Additionally, the gaming industry was also greatly impacted as there is also a shortage in terms of gaming consoles such as the Sony PlayStation 5.

US President Joe Biden is said to be planning "aggressive steps" to tackle the global semiconductor shortage. Bloomberg even reported that the US president is expected to sign an executive order that aims to review the government-wide supply chain for critical goods in the coming weeks. The chip shortage is one of the critical points in this review.

The US government is also said to be planning to create incentives to lure chip manufacturers to set up their foundries in the USA. Intel and Qualcomm joined the US government in this endeavour and plans to help fund the campaign.

What do you guys think?

Source: Gizmochina