- July 29, 2021
- Posted by: Stratford Team
- Category: Business
Jen Psaki on semiconductor chip supply chain
The U.S. government is seeking ways to alleviate a semiconductor chip shortage, which is affecting companies around the globe and was sparked by some regulations implemented – and decisions made – during the COVID-19 pandemic.
The shortage affected the auto sector heavily throughout this year. General Motors recently announced that it would reduce some truck production in North America due to the global chip shortage, while Ford has also pulled back production at several factories.
There are expectations that other tech sectors could feel similar effects soon.
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So what caused the shortage that is affecting companies and consumers around the world?
Tom Coughlin, Institute of Electrical and Electronics Engineers fellow and Coughlin Associates president, told FOX Business that semiconductor chips are used in most electronic devices and provide…