U.S. computer chip company CEOs are urging President Joe Biden to support domestic chip production and stop the United States from losing its edge. They are asking him to include funding for chip factories in his stimulus package in the form of grants or tax credits.
They say the United States used to make 37 percent of the world’s chips in 1990, but now it’s down to only 12 percent. Most chips are now made in Taiwan and South Korea.
China is currently heavily investing in its own chip industry. National security concerns about Chinese tech companies means the United States won’t want Chinese chips. Strengthening U.S. domestic manufacturing is one way to protect these security concerns.
