US Secretary of Commerce Gina Raimondo is pressing the Taiwan Semiconductor Manufacturing Company (TSMC) and other Taiwanese companies to help ease a chip shortage among US automakers.
During an event held Tuesday by US business organization Council of the Americas, Raimondo said, “We're working hard to see if we can get the Taiwanese and TSMC, which is a big company there, to, you know, prioritize the needs of our auto companies since there's so many American jobs on the line.”
She also said that there needs to be more investment to produce more semiconductors in the US. She said other key supply chains need reshoring to other places, including allied countries.
On Wednesday, TSMC reassured the global automotive industry that it is making automobile chips a top priority. It said in a statement to Reuters, “TSMC has been working with all parties to alleviate the automotive chip supply shortage, we understand it is a shared concern of the worldwide automotive industry.”
TSMC is the world’s largest chip contract manufacturer. Taiwan’s semiconductor factories account for 65% of global revenue.