Taiwan's government said that global supply and demand for auto chips should reach a "balance" by the fourth quarter of 2021. Democratic US senators from Michigan and Ohio this week asked the Taiwanese government to help address the shortage, given that the island is a major semiconductor producer.

World Business Watch: Taiwan sees 'balance' in auto chip supplies by Q4

A shortage of chips used in auto manufacturing could disrupt automotive production in China well into next year. Reports saying chip companies are raising prices and expanding production in response.

World Business Watch: Chip shortages could slow automotive production in China

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