Chip shortage is economic and national security problem, Commerce secretary says

Commerce Secretary Gina Raimondo issued a dire warning for Congress on semiconductor chips Tuesday, as the Commerce Department released results from its survey on the semiconductor supply chain that show chips are in short supply as demand booms.

"We aren't even close to being out of the woods as it relates to the supply problems with semiconductors," Raimondo said on a call with reporters. "The semiconductor supply chain is very fragile, and it's going to remain that way until we can increase chip production in the United States."

The mismatch between supply and demand is major, according to a Commerce Department's report released Tuesday on the risks in the semiconductor supply chain, which surveyed more than 150 companies from around the world in September on all parts of the supply chain.