From empty auto lots to empty shelves in consumer electronics stores, we have seen firsthand the impact of the global semiconductor shortage. It’s a symptom of a much larger problem — over the last 30 years, the United States has fallen behind the rest of the world when it comes to semiconductor manufacturing.

We’ve gone from inventing the semiconductor to ceding manufacturing of this critical element of our supply chain to America’s strategic and economic competitors. In fact, the U.S. share of global semiconductor manufacturing stands at a mere 12%, while 75% is concentrated in East Asian countries such as China, South Korea, and Taiwan.

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