Some manufacturers have less than 5 days' supply of computer chips, Commerce Department warns
CNN
Some manufacturers that rely on semiconductors are down to less than five days' worth of inventory, according to a report released Tuesday by the Commerce Department, in the latest indication of the extent of the computer chip shortage.
The report, based on more than 150 responses to a Commerce Department request for information from businesses that produce and use semiconductors, found that the median supply of chips held by manufacturers has dropped from 40 days' worth in 2019 to less than five days' worth last year.
The limited supply means that disruptions to production overseas — such as those from weather or new Covid-19 outbreaks — could again lead to factory shutdowns and furloughed workers in the United States, according to the report. It notes that inventories are even smaller in "key industries."
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Retailers are freaking out over tariffs.
Chinese leader Xi Jinping has said his nation is “not afraid,” in his first public comment on the escalating trade war with the United States, as Beijing raised tariffs on US goods to 125%.
Global markets are reeling over President Donald Trump’s haphazard approach to tariffs and an escalating trade war with China. Stocks have been volatile, and an unsettling shift has emerged in the bond market.
So, what happens now that President Donald Trump has art-of-the-dealed his way out of his own centerpiece economic initiative because it nearly broke financial markets?
Inflation slowed sharply in March, new data showed Thursday, underscoring the continued strength and resilience of the economy ahead of President Trump’s aggressive trade moves.
If paying $1,000 for a new iPhone already sounded expensive, consumers should brace for even greater sticker shock later this year. President Donald Trump’s tariffs on foreign goods – specifically those sourced from China – are expected to heighten the prices of everyday tech products, from iPhones to laptops, cars and even smaller gadgets like headphones and computer mice.
The US stock market, fresh off its third-best day in modern history, is sinking back into reality: Although President Donald Trump paused most of his “reciprocal” tariffs, his other massive import taxes have already inflicted significant damage, and the economy won’t easily recover from the fallout.
CNN is tracking price trends for various household staples each month as new factors threaten to increase costs.
The US stock market, fresh off its third-best day in modern history, is sinking back into reality: Although President Donald Trump paused most of his “reciprocal” tariffs, his other massive import taxes have already inflicted significant damage, and the economy won’t easily recover from the fallout.
The European Union has announced it is putting retaliatory measures against the United States on hold for 90 days after US President Donald Trump unveiled a similar pause Wednesday.
OpenAI countersued Elon Musk Wednesday, citing a pattern of harassment by Musk and asking a federal judge to stop him from any “further unlawful and unfair action” against OpenAI, in a court case over the future structure of the firm that helped launch the AI revolution.
What was supposed to be a historic, era-defining trade war launched by US President Donald Trump against range of countries has, for now, narrowed in on a singular target: China.
“I guess they say it was the biggest day in financial history,” President Donald Trump told reporters Wednesday afternoon. Later, in an apparent hot-mic moment, he told a fawning senator that the market was up almost seven percentage points. “Nobody’s ever heard of it. It’s gonna be a record.”