Tiny piece of technology emerges as a source of U.S. tensions with China, Russia [CBS News]
Intel Corporation (INTC)
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Source: CBS News
The chips are imperative for almost every type of technology out there today. But while American tech companies design the world's most advanced chips, none are actually made in the U.S. Almost all of them come from Taiwan. Commerce Secretary Gina Raimondo, 52, said the market failed to get it right in the case of semiconductors. Almost all of America's advanced chips are produced in Taiwan, something that could pose a national security threat. "We allowed manufacturing in this country to wither on the vine in search of cheaper labor in Asia, cheaper capital in Asia, and here we are," she said. "We just pursued profit over national security." Semiconductors and Russia The global chip war ramped up when Russia invaded Ukraine in 2022, Raimondo said. The Commerce Department expanded export controls to stop American semiconductor technology used in drones, missiles and tanks, from being sold to Russia. In a 2022 congressional hearing, Raimondo said that Russia had begun using semi
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