SEMI Supports Congressional Calls to Remove #China Trade #Tariffs
WASHINGTON, D.C. - July 31, 2018 (Investorideas.com Newswire) SEMI today announced its support for calls yesterday by nearly 50 members of Congress for the Trump Administration to remove tariffs on U.S. semiconductor products imported from China. In a letter to Ambassador Robert Lighthizer, U.S. Trade Representative (USTR), the government body charged with issuing the tariffs, stressed the importance of semiconductors in the modern economy, arguing that the duties will do nothing to address U.S. concerns over China's trade practices.
USTR is a bipartisan group of Members of the House of Representatives led by Reps. Pete Sessions (R-TX) and Zoe Lofgren (D-CA), the House co-chairs of the Congressional Semiconductor Caucus.
SEMI fully supports the USTR recommendation and believes that the proposed tariffs will ultimately reduce semiconductor-related exports, limit technology innovation, introduce significant uncertainty in the semiconductor supply chain and cost U.S. companies an estimated more than $500 million annually. The tariffs also threaten to raise prices of semiconductor products and put thousands of high-paying and high skill jobs at risk. Last week, SEMI testified before a U.S. government interagency panel weighing the merits of the tariffs, urging the Trump administration to eliminate tariffs on semiconductor products.
SEMI® connects over 2,000 member companies and 1.3 million professionals worldwide to advance the technology and business of electronics manufacturing. SEMI members are responsible for the innovations in materials, design, equipment, software, devices, and services that enable smarter, faster, more powerful, and more affordable electronic products. FlexTech, the Fab Owners Alliance (FOA) and the MEMS & Sensors Industry Group (MSIG) are SEMI Strategic Association Partners, defined communities within SEMI focused on specific technologies. Since 1970, SEMI has built connections that have helped its members prosper, create new markets, and address common industry challenges together. SEMI maintains offices in Bangalore, Berlin, Brussels, Grenoble, Hsinchu, Seoul, Shanghai, Silicon Valley (Milpitas, Calif.), Singapore, Tokyo, and Washington, D.C. For more information, visit www.semi.org and follow SEMI on LinkedIn and Twitter.
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