President Joe Biden holds up a silicon wafer as he participates virtually in the CEO Summit on Semiconductor and Supply Chain Resilience in the Roosevelt Room of the White House on April 12, 2021.Paul A. Eisenstein
The event was called to address an immediate crisis that has impacted key industries, including consumer electronics, pharmaceuticals and auto manufacturing. Few sectors have been impacted as badly as the auto industry, which has had to slow or halt production at plants across the U.S. In turn, that has worsened a shortage of new cars and trucks stemming from shutdowns ordered last year in the face of the coronavirus pandemic.
General Motors and Ford alone have warned that they could take a collective $4.5 billion hit to their earnings this year because of the parts shortage. Analysts warn that the crisis could drive up the cost of the chips now used in every automobile, further escalating vehicle prices that have reached record levels approaching an average $40,000, according to IHS Markit.
Tax credits would “help companies offset the cost of creating new lines within existing facilities or reallocating current production to meet evolving needs,” said John Bozzella, CEO of the Alliance for Automotive Innovation, a trade group representing both Detroit’s Big Three and most of the foreign-owned automakers operating in the U.S.
Ford plants in Chicago, Flat Rock, Michigan and Kansas City are also closed this week, impacting production of some of the automaker’s most profitable products, including the F-150 pickup.
Is that the world's first microdot he's holding? I can believe some agency would still be using one.
So far, everything Comrad Joe has touched has been a disaster! Canceling our energy, going overboard on social equality, spending trillions of our money, and starting the biggest humanitarian crisis in the history of our nation! He should be locked up for dereliction of duty!
President Biden counted on Iran ‘s resources. Stop him! The cost of his actions is genocide Iranian people!
MalcolmNance Nonsense. We are still driving pollution monsters. Still using wires instead of laser or fiber optic. Still no mass transit. We aren't even up to last century world standands.
MalcolmNance Here, Biden says, ' I asked for a roach clip and they handed me this' as he holds up a pot holder.
MalcolmNance Joe is a good man.
American made , China owned
MalcolmNance I love Joe Biden as POTUS but I am deeply concerned that Democrats are playing right into the hands of the GOP. Vital legislation must be keenly targeted with no ambiguity. Otherwise it is too easily portrayed as a 'radical wish list.'
you have no money to build any things like china. you are only creating debt to the new generations .
Truckers use our highways and freeways delivering corporate items big and small daily however the GOP don't want them to pay their fair share to repair and maintain them. Asking them to pay taxes for using these items is only fair to Americans who go to work daily.
Man, just pass the Bill or Exec-Order it! The American People are fine with the decisions U R making! Repubs never solicits their Voters or Dem's approval... Like a good Parent/Leader? They simply come up with a decision & move on it! Whats the problem? Worried about incumbency?
It was likely a defective wafer, but it still pains me to see him handling (and therefore ruining) a silicon wafer
Then, in a surprise move, the President mistook the semiconductor he was holding for a waffle, and chewed it vigorously. “Yum,” he declared.