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U.S. Secretary of Commerce Gina Raimondo Statement on Meeting with Members of the Semiconductor Industry Association

FOR IMMEDIATE RELEASE

Following a meeting with the CEOs and senior executives on the Semiconductor Industry Association (SIA) board of directors, U.S. Secretary of Commerce Gina M. Raimondo released the following statement:

“I had a productive meeting with members of the Semiconductor Industry Association board of directors on the importance of American semiconductor innovation and manufacturing. Semiconductors are America’s fourth largest export, and critical to our economic competitiveness and national security. I believe we need to make strong investments in domestic manufacturing, research, and workforce, and help strengthen America’s global leadership in semiconductor manufacturing and innovation. This is the beginning of what I believe will be an ongoing dialogue between the Department of Commerce and industry leaders as we find innovative ways to invest in domestic manufacturing.

The Biden-Harris Administration views semiconductors as a critical supply chain that we must strengthen domestically. As the President said, the U.S. is the birthplace of this technology, but over 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. As Secretary of Commerce, combatting the semiconductor shortage and investing in American manufacturing of semiconductor technology is going to be a priority of mine and I look forward to working alongside leaders like the Semiconductor Industry Association.”

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