WASHINGTON, April 16, 2015 /PRNewswire-USNewswire/ -- The Semiconductor Industry Association (SIA), representing U.S. leadership in semiconductor manufacturing and design, today applauded the Bipartisan Congressional Trade Priorities and Accountability Act of 2015 (TPA-2015), legislation introduced today by Senate Finance Committee Chairman Orrin Hatch (R-Utah), Ranking Member Ron Wyden (D-Ore.), and House Ways and Means Committee Chairman Paul Ryan (R-Wis.). The SIA board of directors, led by Intel CEO and SIA chairman Brian Krzanich, sent a letter today to congressional leaders expressing support for the legislation and urging its swift passage. Additionally, SIA president and CEO John Neuffer released the following statement in support of the bill:
"SIA strongly supports Trade Promotion Authority (TPA) and applauds the introduction of this bipartisan legislation. TPA paves the way for free trade by empowering U.S. negotiators to reach final trade agreements consistent with negotiating objectives laid out by Congress. Free trade is especially critical to the U.S. semiconductor industry, which designs and manufactures the chips that enable virtually all electronics. Our industry relies on a global ecosystem of materials and equipment suppliers, technology providers, services, R&D, and customers, so we depend on open access to international markets.
"In 2014, U.S. semiconductor company sales totaled $173 billion, representing over half the global market, and 82 percent of those sales were to customers outside the United States. The U.S. semiconductor industry employs nearly 250,000 people in high-skilled, high-wage jobs in America, and supports over one million additional U.S. jobs. Since most of the U.S. semiconductor industry's customers are abroad, free trade is critical to creating and supporting these U.S. jobs.
"The United States is currently pursuing the Trans-Pacific Partnership (TPP) and the Transatlantic Trade and Investment Partnership (TTIP), two important trade agreements that would result in billions of dollars in global trade of semiconductor products. Without TPA, these agreements may never see the light of day.
"TPA makes sense for America and for the future prosperity of Americans. We commend Chairman Ryan, Chairman Hatch and Ranking Member Wyden for introducing this pro-growth legislation and urge lawmakers to act swiftly to approve it."
The Semiconductor Industry Association (SIA) is the voice of the U.S. semiconductor industry, one of America's top export industries and a key driver of America's economic strength, national security and global competitiveness. Semiconductors – microchips that control all modern electronics – enable the systems and products that we use to work, communicate, travel, entertain, harness energy, treat illness, and make new scientific discoveries. The semiconductor industry directly employs nearly a quarter of a million people in the United States. In 2014, U.S. semiconductor company sales totaled $173 billion, and semiconductors make the global trillion dollar electronics industry possible. Founded in 1977 by five microelectronics pioneers, SIA unites companies that account for 80 percent of America's semiconductor production. Through this coalition, SIA seeks to strengthen U.S. leadership of semiconductor design and manufacturing by working with Congress, the Administration and other key industry stakeholders to encourage policies and regulations that fuel innovation, propel business and drive international competition. Learn more at www.semiconductors.org.
Semiconductor Industry Association
SOURCE Semiconductor Industry Association