The US government may invoke a Cold War-era national security law that would force companies involved in semiconductors to provide supply chain data.

US Secretary of Commerce Gina Raimondo told Bloomberg that Defense Production Act was being considered if companies failed to provide more information about potential shortages or supply hoarding.

Raimondo said that multiple meetings with companies across different sectors had failed to elicit sufficient information, with firms refusing to hand over business data.

The Commerce Department has now sent out a voluntary questionnaire, giving companies 45 days to provide information. If they don't, Raimondo warned, the government may use tools like the Defense Production Act.

“What I told them is, ‘I don’t want to have to do anything compulsory but if they don’t comply, then they’ll leave me no choice,’” she told Bloomberg.

“I said today we’re evaluating all of our options right now, all the tools. I hope not to go there but we need to see some progress and we definitely need compliance.”

The Defense Production Act was previously used by both the Biden and Trump administrations to help produce and distribute Covid-19 vaccines and medical supplies. It gives the president significant powers over directing industrial production during crises.

The world is in the midst of a lengthy semiconductor shortage, that has impacted the production of countless industries - foremost amongst them automotive manufacturers, which have repeatedly idled plants.