US Chips Industry Faces ‘Myriad Challenges’: SIA
The U.S. semiconductor industry maintained global leadership, with 47% revenue share, and “kept steady” its high R&D investment at $44 billion spent through 2020, reported the Semiconductor Industry Association Monday. But the industry “and its position as a global innovation…
Sign up for a free preview to unlock the rest of this article
If your job depends on informed compliance, you need International Trade Today. Delivered every business day and available any time online, only International Trade Today helps you stay current on the increasingly complex international trade regulatory environment.
leader face myriad challenges,” it said. “The industry continues to grapple with a widespread global semiconductor shortage brought on by unpredictable and increased demand resulting from the COVID-19 pandemic,” said SIA. It suffers from “decreasing share of global front-end fab capacity fueled by incentives and subsidies provided by foreign governments that far outstrip similar incentives in the U.S.,” it said. “America’s economy, national security, tech leadership, and response to COVID-19 are built on semiconductors,” said SIA CEO John Neuffer. “To remain competitive on the global economic stage” and promote more R&D and production “on U.S. shores,” Congress and the White House should “act swiftly” to fund the semiconductor provisions in the Chips Act, he said. The Senate has passed legislation that provides $52 billion in funding, and the House needs to “follow suit,” said SIA.