The summit comes because the Biden administration embarks on a assessment of key U.S. provide chains, together with these for semiconductors, high-capacity batteries, medical provides and uncommon earth metals. The scarcity of laptop chips has implications for a variety of industries, from producers of electrical autos to medical provides.

Car producers like GM and Ford lately needed to lower manufacturing estimates or lengthen downtime to take care of the scarcity. The provision chain was initially compromised early within the Covid pandemic since a big portion of the world’s chips are manufactured in Asia, the place the disaster first hit.

U.S. officers and lawmakers have underscored the potential safety implications of the nation’s reliance on different nations for semiconductors. Senate Majority Chief Chuck Schumer, D-N.Y., mentioned in February that “semiconductor manufacturing is a harmful weak spot in our financial system and in our nationwide safety.”

As a matter of each financial and nationwide safety, the availability chain evaluation outlined by Biden’s govt order from February seeks to test the “resiliency and capability of the American manufacturing provide chains and protection industrial base to assist nationwide safety [and] emergency preparedness.”

The White Home has additionally mentioned it seeks to assessment gaps in home manufacturing and provide chains which are dominated by or run by “nations which are or are more likely to develop into unfriendly or unstable.”

Although the White Home’s assessment doesn’t point out China explicitly, the directive is probably going largely an effort by the administration to find out how reliant the U.S. financial system and navy are on a vital group of Chinese language exports.

The digital summit will probably be hosted by Nationwide Safety Advisor Jake Sullivan and NEC Director Brian Deese, joined by Secretary of Commerce Gina Raimondo, in keeping with the White Home. Members will focus on Biden’s American Jobs Plan and how one can strengthen the U.S. provide chain for semiconductors, in keeping with the White Home.

Right here is the complete checklist of firms whose executives are set to take part within the summit:

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