Commerce Secretary Stresses Importance of Semiconductor Sector in Meeting With Industry Leaders

Commerce Department Secretary Gina Raimonndo said she had a “productive” meeting with the Semiconductor Industry Association last week and agreed that the U.S. should push for “strong investments” in domestic semiconductor manufacturing and innovation. “Semiconductors are America’s fourth largest export, and critical to our economic competitiveness and national security,” Raimondo said in a March 19 statement, adding that the meeting with SIA’s board of directors is the beginning of an “ongoing dialogue” between Commerce and industry leaders. “[O]ver the years we have underinvested in production and hurt our innovative edge, while other countries have learned from our example and increased their investments in the industry,” Raimondo said. “As Secretary of Commerce, combatting the semiconductor shortage and investing in American manufacturing of semiconductor technology is going to be a priority of mine.”