President Joe Biden’s top economic and national security advisers hosted more than a dozen CEOs on Monday to discuss the administration’s $2.25 trillion infrastructure plan and the global semiconductor shortage.
Companies invited to join the administration officials included General Motors, Ford, Stellantis, Google parent Alphabet Inc., Dell Technologies, Intel Corp., Medtronic, Northrop Grumman, HP Inc., Cummins Inc., Micron Technology, Taiwan Semiconductor Manufacturing Co., AT&T and Samsung Electronics.
National Economic Council director Brian Deese and National Security Adviser Jake Sullivan hosted the meeting, and Commerce Secretary Gina Raimondo participated.
Indiana-based engine maker Cummins hasn’t publicly complained about semiconductor availability but has said supply chain issues in general are an ongoing problem.
“The supply base is generally tight, not just semiconductors, which has gotten a lot of press,” Cummins President and Chief Operating Officer Tony Satterthwaite said on the company’s earnings call in February. “Many of our components are on longer lead times. Our suppliers and we are struggling with absenteeism due to COVID. We are working very closely with our customers to remain connected and to continue to supply them as best we can.”
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