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we cannot do if we do it together this hour, we will bring you new developments in the criminal and civil cases against former president trump. i will ispeak to a top former diplomat who negotiated peace deals. good day, everyone i m andrea mitchell in washington we expect to hear from president biden this hour at a gathering of his strongest supporters here in washington, members of the building and trade unions. the president s first public remarks since announcing his re-election bid in the online video featuring vice president kamala harris and highlighting his record on the economy, abortion rights and the fight to preserve democracy when i ran for president four years ago, i said we re going to battle for the soul of america we still are the question we are facing is whether in the years ahead we have more freedom or less. more rights or fewer i know what i want the answer to be i think you do, too. this is not a time to be complacent that s why i m running ....
because of the pandemic, when factories shutdown in asia they had no idea they were supplying essential materials to us, shutdown around the world. these small computer chips, the size of your finger tip, they affect nearly everything in our lives. our cell phones. automobiles, refrigerators, weapons systems, everything. america invented these chips we made them smaller, faster and more powerful. but over time we went from producing 40% of the world s chips down to just 10% of them despite leading the world in research and design. you saw what happened during the pandemic when the global economy came to a halt overseas factories that made the chips shutdown driving up the costs for everyone around the world, particularly american families every new car built needs as many as 3,000 of these chips during the pandemic, that s the reason car prices skyrocketed. and in some cases new car production shutdown because the chips were in short supply but now the private sector at ....
Designed and signed the chips in science act. i asked the ceos this question, when the united states i really did, not a joke, i asked them, marty remembers i asked them, when the united states invests considerable resources in a new enterprise, in a new business, are they much more likely or less likely to get in the game and the answer is overwhelmingly yes, it matters they get in the game when the united states of america makes a judgment what they re going to invest in that s how we keep parts of our supply chain back to america like semiconductors. think about how many people had no idea what the heck a supply chain was. i m serious. you said, two and a half years ago, the supply chain, people look at really bright people look at the yeah, the well, guess what ....