As per the recent reports, it has been expressed by the European Union how it plans on dealing with technologies currently being manufactured outside of the region. The European Union now wants to become independent in the manufacturing of technologies and wants to be less reliant on outside sources.
One of the recent and clear demonstrations made by the European Union is the boosting of chip productions that have been carried out in the European region.
Whether it is an LCD, mobile phone, laptop, computer, or other electronics, semiconductors are being used in almost every electronic product. However, being one of the most advanced and first-world continents in the entire world, Europe’s contribution in the production of the chips is still too low.
As per the recent figures, the global contribution of Europe in the production of chips (semiconductors) is even less than 10%. This means that the region is currently way too far behind other continents when it comes to the production of chips.
This is the major reason why the EU is mostly dependent on the largest chip production contributors in the entire world that are the United States and China.
However, both countries have been at each other’s throats for a very long time and the COVID-19 has made things even worse. When the COVID-19 started spreading all across the world, the former president of the United States “Donald Trump” turned very aggressive against China.
The former president accused the Chinese government of deliberately spreading the coronavirus in the United States. Apart from the allegations, the former president even issued presidential orders to the New York Stock Exchange (NYSE). In the orders, the NYSE was ordered to de-list a number of China-based telecommunication companies that were listed on its index.
As a result of the above, the trades between the two countries were largely affected, which resulted in the shortage of supplies for chips. This is the reason why the entire world is currently facing a shortage of semiconductors.
However, the European Union has decided to take care of the matter in its own way. Instead of waiting for the two rivals to re-establish their trading ties and resuming trades, the EU has decided what it is going to do from this point onwards.
The European Union has announced that it will be boosting the production of semiconductors within the region. Therefore, the EU has announced that it will start taking necessary steps in order to increase its contribution towards the production of semiconductors globally.
The EU has announced that it is going to introduce many innovations and improvements into its current semiconductor productions. They will be working to introduce sustainable and cutting-edge semiconductors in the industry.
The EU has stated that its goal is to ensure that by 2030, the region is responsible for contributing at least 20% to the production of high-end semiconductors.