The Biden Administration views the current chip shortages plaguing the global economy as a "national security issue" ahead of a White House Summit focused on addressing the problem. Back in February, President Joe Biden signed an executive order aimed at mitigating problems with the semiconductor supply chain. Part of the initiative to address the ongoing issues include a White House Summit on Monday. When asked about whether the Biden Administration sees the chip shortage as a national security issue, White House Press Secretary Jan Psaki said "we certainly do." As far as specific solutions to the chip issue, Psaki said the administration is looking at a "holistic, long-term, across-government approach." She also held off on announcing specific short-term solutions ahead of the summit Monday.