US Treasury Chief Says Taiwan Only Source of Advanced Semiconductors, Poses National Risk
WASHINGTON (Sputnik) - Taiwan is the sole source of advanced semiconductor microchips, which poses a risk to US national security, Treasury Secretary Janet Yellen said on Thursday.
"The only country in the world that is a source of the most advanced semiconductors is Taiwan," Yellen said during an event hosted by The Atlantic. "I would regard that as a resilience risk and also a national security risk."
Moreover, the United States is highly dependent on China for certain supplies like lithium and processing of some of the minerals that go into electric batteries, Yellen added.
Yellen said that it is possible to both mine these minerals and process the minerals in the United States and other countries that the United States is comfortable with.
Last month, US President Joe Biden signed an executive order to implement the $280 billion CHIPS and Science Act of 2022, which includes more than $52 billion in subsidies for US semiconductor manufacturers in an effort to counter China's growing technological clout.