03 Jan 2024 -

US Senate passes Securing Semiconductor Supply Chains Act

Statute of Liberty USA

Is the U.S. on the brink of a semiconductor revolution? The U.S. Senate’s unanimous passage of the ‘Securing Semiconductor Supply Chains Act’ indicates a decisive step towards enhancing domestic semiconductor chip manufacturing. This bipartisan legislation, championed by Senators Rick Scott, Gary Peters, Marsha Blackburn, and Jon Tester, aims to strengthen federal efforts in expanding the U.S. semiconductor industry.

The Act tasks the U.S. Department of Commerce’s SelectUSA program with developing strategies to attract investment in American semiconductor manufacturers and supply chains. Senator Rick Scott emphasised the urgency of this initiative, stating, “As Communist China’s influence in the semiconductor market continues to grow, it is beyond time to boost domestic production.” This sentiment reflects a broader concern about reducing dependency on foreign semiconductor production.

Senator Gary Peters highlighted the strategic importance of this move, “In order to remain a global economic powerhouse in the 21st century, we must…boost U.S. production of semiconductor chips.” His words underline the semiconductor’s role in future technology and innovation.

The SelectUSA program, established in 2011, is at the forefront of this effort. It’s tasked with engaging state-level economic development organisations to increase semiconductor manufacturing investments in the U.S. This direction comes in the wake of a Biden Administration report suggesting the program’s potential to strengthen private sector investments in this critical supply chain.

Senator Marsha Blackburn and Senator Jon Tester also echoed the need for bolstering domestic production to safeguard national security, the economy, and create job opportunities, particularly in rural America. The Act represents a collective effort to reverse outsourcing trends and reinforce the U.S.’s stature in the global economic landscape.

This legislation is a significant stride for the U.S. electronics industry, positioning it to become a key player in the global semiconductor market while addressing the ongoing global shortage that has disrupted multiple industries.

Thousands of senior engineers and procurement professionals subscribe to our LinkedIn Market Intel newsletter – get yours here

For more help with looking at supply chain options, contact Astute Electronics

Related News

29 Feb 2024 - General

Electronics industry optimistic: bright start to 2024

Read more

26 Feb 2024 - General

India’s WTO stance raises concerns for chip industry growth

Read more

22 Feb 2024 - General

Electronics manufacturers cautious but optimistic despite recession fears

Read more

21 Feb 2024 - General

Hidden threat: counterfeit hardware infiltrates 80% of computers

Read more

15 Feb 2024 - General

Chip rush: Global scramble for semiconductor supremacy

Read more

13 Feb 2024 - General

Foxconn faces semiconductor shortage amid ‘AI chip race’

Read more