US semiconductor association asks Biden not to impose more China sactions

<p>The US-based semiconductor industry association has called on the Biden administration to refrain from further sanctions on US microchip sales to China.</p><p>The association called for the the restrictions to be narrow and clearly defined. </p><p>Here is the statement:</p><p>The Semiconductor Industry Association (SIA) today released the following statement regarding potential additional government restrictions on semiconductors.

</p><p>“Recognizing that strong economic and national security require a strong U.S. semiconductor industry, leaders in Washington took bold and historic action last year to enact the CHIPS and Science Act to strengthen our industry’s global competitiveness and de-risk supply chains. Allowing the industry to have continued access to the China market, the world’s largest commercial market for commodity semiconductors, is important to avoid undermining the positive impact of this effort. Repeated steps, however, to impose overly broad, ambiguous, and at times unilateral restrictions risk diminishing the U.S. semiconductor industry’s competitiveness, disrupting supply chains, causing significant market uncertainty, and prompting continued escalatory retaliation by China.</p><p>

“We call on both governments to ease tensions and seek solutions through dialogue, not further escalation. And we urge the administration to refrain from further restrictions until it engages more extensively with industry and experts to assess the impact of current and potential restrictions to determine whether they are narrow and clearly defined, consistently applied, and fully coordinated with allies.”</p><p>Earlier I <a href="https://www.forexlive.com/news/us-microchip-curbs-on-china-aim-to-halt-chinese-innovation-20230717/" target="_blank" rel="follow">wrote </a>about the high stakes with the US attempting to strangle Chinese access to chips.</p>

This article was written by Adam Button at www.forexlive.com.