"Reallocating semiconductors to automakers "would result in fewer chips for others," the official, who is involved in high-level discussions on the issue, told Reuters. Such a move could hurt makers of consumer electronics such as laptops and medical devices like pacemakers, the official added. "This is the worst nightmare if you're a supply chain manager ," said another person familiar with the White House's thinking. The chips issue threatens the U.S. economy and imperils jobs in election battlegrounds from Texas to Michigan.Last week, Ford Motor Co warned the chip shortage will slash second-quarter production by 50%. "There's no quick fix," said Chad Bown, a senior fellow at the Peterson Institute for International Economics

Source: Economic Times May 05, 2021 10:57 UTC