WASHINGTON, March 22, 2018 /PRNewswire-USNewswire/ -- The Semiconductor Industry Association (SIA), representing U.S. leadership in semiconductor manufacturing, design, and research, today released the following statement from President & CEO John Neuffer in response to the Section 301 action taken today by the Trump Administration to address China's trade practices.
"The U.S. semiconductor industry shares the Trump Administration's concerns regarding unfair and discriminatory trade practices that put at risk American intellectual property in China.
"We are reviewing the Administration's Section 301 findings and proposed actions, and encourage an outcome that protects U.S. intellectual property in a manner that avoids a costly trade conflict. We welcome the opportunity to provide input on proposed tariffs, and hope to work with the Administration to avoid tariffs that would harm competitive U.S. industries and their consumers.
"Intellectual property is the lifeblood of the semiconductor industry. Semiconductors are America's fourth-largest export and are fundamental to the strength of our economy. U.S. semiconductor companies invest nearly one-fifth of their revenue in research and development to stay at the forefront of innovation. They should be able to compete in foreign markets without putting their critical IP at risk.
"At the same time, we welcome China's participation in the global semiconductor value chain as long as it conforms with its international obligations and is consistent with market-based principles. In the end, strong protections for intellectual property serve the long-term interests of both the United States and China."
Semiconductor Industry Association
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 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 U.S. In 2017, U.S. semiconductor company sales totaled $189 billion, and semiconductors make the global trillion dollar electronics industry possible. SIA seeks to strengthen U.S. leadership of semiconductor manufacturing, design, and research 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.
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SOURCE Semiconductor Industry Association