5/20, 1:24 PM (Source: TeleTrader)
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EU to commit 'significant' funding to semiconductors

The European Union is ready to dedicate "significant" funds to bolstering the manufacture of semiconductors, European Commissioner for Internal Market Thierry Breton (pictured) stated on Thursday.

Breton previously described "well-functioning supply chains" as "critical" during his talks with World Trade Organization (WTO) Director-General Ngozi Okonjo-Iweala.

Fitch Ratings predicted that the chip-shortage crisis could dampen global car sales by 5% in 2021, while the White House marked the problem as a national security issue.

Breaking the News / BU