Global chip shortage likely to last through 2023, says US official

A file photo of the inside of a computer. A global computer chip shortage has made it harder for consumers to get their hands on cars, computers and other modern-day necessities, so Congress is looking to boost chip manufacturing and research in the United States with billions of dollars from the federal government. — AP

WASHINGTON: The global shortage of critical semiconductors is likely to last at least through next year and perhaps longer, US Commerce Secretary Gina Raimondo warned on May 31.

Shutdowns of key Asian suppliers due to the Covid-19 pandemic crippled supplies last year, just when American consumers, flush with cash from government aid, went on a spending spree buying cars and electronics, which depend on the chips.