The CEOs of Intel Corp. and Micron Technology Inc. will testify on March 23 before the U.S. Senate, Reuters reports. The hearing would focus on vulnerabilities in semiconductor supply chains and the sector’s connection with American competitiveness. The PACCAR Inc. chief will also testify at the hearing. The U.S. presently accounted for 12 percent of the chip production versus 40 percent twenty years back. The U.S. government had approved the $52 billion in subsidies for the semiconductor industry. The auto industry chip crisis cost $210 billion in revenue in 2021. Intel looked to invest up to $100 billion in a leading chip-making complex in Ohio. Micron aimed to spend $150 billion over the next decade globally on leading-edge memory chips. By Anusuya Lahiri © 2021 The Epoch Times. The Epoch Times does not provide investment advice. All rights reserved.