US facing enormous shortage of semiconductors & no government money could fix it, economist tells Boom Bust

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US facing enormous shortage of semiconductors & no government money could fix it, economist tells Boom Bust

US President Joe Biden has signed an executive order aimed at addressing a global semiconductor chip shortage. His infrastructure plan also includes $ 50 billion for the American semiconductor industry.

RT’s Boom Bust is joined by Jeffrey Tucker of the American Institute for Economic Research, who says the chip shortage problem in the US started back in 2019, or even 2018, with the disruption of supply chains from China.

“That is the real underlying issue here,” he says, adding that “The Trump administration really began to construct a kind of gigantic technology wall between the US and China, and other places in the world.”

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Tucker explains that the real problem is that “it’s made enormous shortages in this country and everybody knows that. So, we’ve got to fix that problem and no amount of government spending is going to fix it.”

For more stories on economy & finance visit RT’s business section

RT
This article originally appeared on RT Business News

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116
17 shares, 116 points

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