The global semiconductor shortage shows no signs of slowing down soon, according to US officials.
The chip shortage caused by Covid-related supply chain disruptions; the increase in demand that followed the move to remote working, and the ongoing trade war between the US and China is currently affecting many industries that rely on the technology.
"I do not, unfortunately, see the chip shortage abating in any meaningful way any time in the next year," said Raimondo.
The US Commerce Secretary has recently been on a trip to South Korea, where she convened a dozen CEOs, including leaders of chipmakers. The country is one of the leading producers of semiconductors. Although Taiwan, home to chip manufacturing giant TSMC, accounted for over 60 per cent of global foundry revenues in 2020, South Korea followed with 18 per cent of global foundry revenues.
Reflecting on her trip, Raimondo said that she discussed the shortage with experts "and they...