Why the U.S. must manufacture its own semiconductors | Opinion
Siemens will invest $10 million to expand its Grand Prairie manufacturing hub as part of a broader push to capitalize on semiconductor plants being built in the U.S.Have you had trouble ordering a refrigerator? Trying to trade in a vehicle only to be told by a dealer that a new model has a three-month backlog? Numerous Americans have experienced these situations because of a global semiconductor shortage brought about by COVID-19 manufacturing and supply chain issues.
Semiconductors are used in a multitude of products, from computers, smartphones, cars and refrigerators to medical and military equipment. Our lives revolve around these miniature marvels and their strategic importance in the U.S.-China technology war cannot be overstated. As an illustration, in 2019 when President Donald Trump imposed sanctions on Huawei, China’s leading telecommunications company, Huawei reported that its annual smartphone revenue declined roughly $30 billion as a result.
China’s industry experienced unprecedented 30.6% annual growth in 2020, according to the Semiconductor Industry Association. The SIA projects that China will account for 17.4% of global market share by 2024 . Semiconductor Manufacturing International Corp., China’s largest manufacturer, even experienced a 39% revenue increase despite also being placed on a U.S. entity blacklist by Trump in 2020. China’s efforts have been that monumental.
The U.S. must similarly make use of its societal resources to win the chip war — it’s that crucial. Otherwise, our “smart” world will be threatened. The good news is that Congress is getting closer to passing the heavily bipartisan CHIPS Act, which provides funding for U.S. based manufacturing facilities and to enhance research and development. The legislation passed the Senate, and lawmakers are now deliberating appropriations.
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