{"id":1538479,"date":"2022-07-04T11:49:15","date_gmt":"2022-07-04T15:49:15","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1538479"},"modified":"2022-07-04T11:49:17","modified_gmt":"2022-07-04T15:49:17","slug":"plans-for-new-semiconductor-factories-across-america-hit-major-roadblock","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/plans-for-new-semiconductor-factories-across-america-hit-major-roadblock\/","title":{"rendered":"Plans For New Semiconductor Factories Across America Hit Major Roadblock"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fplans-for-new-semiconductor-factories-across-america-hit-major-roadblock%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1538479&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>Major projects to increase the United States\u2019 <a href=\"http:\/\/dailywire.com\/topic\/economy\">manufacturing<\/a> capacity for semiconductors have been put on hold as supporting legislation has been delayed in <a href=\"https:\/\/www.dailywire.com\/topic\/congress\">Congress<\/a>.<\/p>\n<p>Many Asian economies implemented harsh lockdown measures in response to COVID, creating bottlenecks in the global semiconductor <a href=\"http:\/\/dailywire.com\/topic\/supply-chain\">supply chain<\/a>. As a result, American consumers and businesses have faced a shortage of products that require computer chips. Some automotive companies, for example, have been forced to limit or pause production, worsening <a href=\"http:\/\/dailywire.com\/topic\/inflation\">inflationary<\/a> pressures as vehicle prices <a href=\"https:\/\/www.dailywire.com\/news\/here-are-the-products-gutting-your-bank-account-as-inflation-soars\">surge<\/a> at the highest rate in decades.<\/p>\n<p>In response, lawmakers proposed the $52 billion CHIPS for America Act. However, because the funding has not yet reached chipmakers, Intel, TSMC, and GlobalFoundries issued \u201cpublic warnings\u201d that they might \u201cscale back their plans to make semiconductors\u201d in the United States, according to the <a href=\"https:\/\/www.commerce.gov\/news\/press-releases\/2022\/06\/icymi-three-companies-warn-about-delayed-chip-funding-globalwafers\">Department of Commerce<\/a>.<\/p>\n<p>Intel CEO Pat Gelsinger, for example, said at a recent panel event that he might increase chip production in Europe due to legislative delays in the United States. \u201cThe rest of the world is moving rapidly despite the inability of Congress to get this finished,\u201d he remarked, noting that Asian countries are also passing new incentives.<\/p>\n<p>Steven Grasso, GlobalFoundries\u2019 managing director of global government affairs, told <a href=\"https:\/\/www.washingtonpost.com\/technology\/2022\/06\/22\/chips-act-funding-congress\/\">The Washington Post<\/a> that the CHIPS Act \u201cmakes the U.S. semiconductor industry more competitive globally,\u201d while the \u201cpassing of CHIPS funding would affect the rate and pace at which we invest in expanding our U.S. manufacturing capacity.\u201d<\/p>\n<p>The United States <a href=\"https:\/\/www.dailywire.com\/news\/onshoring-semiconductor-capacity-is-crucial-to-national-security\">represents<\/a> 12% of global semiconductor manufacturing and 25% of global semiconductor demand, according to Radford University management professor Zachary Collier, while every worker in the semiconductor industry supports an additional 5.7 jobs elsewhere in the economy. A <a href=\"https:\/\/www.commerce.gov\/news\/press-releases\/2022\/04\/analysis-chips-act-and-bia-briefing\">Commerce Department<\/a> analysis of the semiconductor industry revealed that the United States\u2019 gross domestic product (GDP) was slashed by $240 billion last year due to widespread computer chip shortages.<\/p>\n<p>Indeed, Tesla CEO Elon Musk has <a href=\"https:\/\/www.dailywire.com\/news\/never-seen-anything-like-it-elon-musk-reacts-to-global-supply-chain-issues\">pointed<\/a> to the semiconductor shortage as the company\u2019s \u201cbiggest challenge\u201d and said he has \u201cnever seen anything like it.\u201d Musk more recently <a href=\"https:\/\/www.dailywire.com\/news\/elon-musk-laments-tesla-factories-becoming-gigantic-money-furnaces-thanks-to-supply-chain-issues\">lamented<\/a> the automaker\u2019s factories becoming \u201cgigantic money furnaces\u201d due to supply chain issues.<\/p>\n<p>\u201cJust been trying to keep the factories operating the last couple years has been a very difficult thing, like supply chain interruptions have been severe, like extremely severe,\u201d Musk said during a Tesla Owners Silicon Valley interview published Wednesday, per <a href=\"https:\/\/www.cnbc.com\/2022\/06\/23\/musk-says-tesla-berlin-and-austin-factories-losing-billions-of-dollars.html\">CNBC<\/a>. \u201cThe past two years have been an absolute nightmare of supply chain disruptions, one thing after another, and we are not out of it yet.\u201d<\/p>\n<p>Earlier this year, Gelsinger said that the semiconductor shortage could last <a href=\"https:\/\/www.dailywire.com\/news\/major-tech-ceo-warns-chip-shortage-will-last-much-longer\">two more years<\/a> amid a lack of availability for manufacturing tools.<\/p>\n<p>\u201cThat\u2019s part of the reason that we believe the overall semiconductor shortage will now drift into 2024, from our earlier estimates in 2023, just because the shortages have now hit equipment and some of those factory ramps will be more challenged,\u201d Gelsinger explained.<\/p>\n<p>In a survey from the National Association of Manufacturers, 59% of business leaders <a href=\"https:\/\/www.dailywire.com\/news\/majority-of-manufacturers-predict-recession-within-the-next-year\">said<\/a> inflationary pressures \u201cmake a recession more likely in the next 12 months.\u201d Likewise, more than 90% of respondents pointed to higher raw material costs as one of the \u201cprimary business challenges\u201d in the second quarter of 2022.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Major projects to increase the United States\u2019 manufacturing capacity for semiconductors have been put on hold as supporting legislation has been delayed in Congress. Many Asian economies implemented harsh lockdown measures in response to COVID, creating bottlenecks in the global semiconductor supply chain. As a result, American consumers and businesses have faced a shortage of &#8230;<\/p>\n","protected":false},"author":99,"featured_media":1538503,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1538479","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1538479","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/99"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1538479"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1538479\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1538503"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1538479"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1538479"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1538479"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}