WASHINGTON, Jan. 16, 2020 /PRNewswire/ -- The Semiconductor Industry Association (SIA) today applauded Senate approval of the U.S.-Mexico-Canada Agreement (USMCA), which passed with strong bipartisan support earlier today. SIA represents U.S. leadership in semiconductor manufacturing, design, and research, with members accounting for approximately 95 percent of U.S. semiconductor company sales.
"Congressional approval of the USMCA is a major win for free trade and America's global leadership in semiconductors and the technologies they enable," said John Neuffer, SIA president and CEO. "The agreement will help ensure that more products researched, designed, and made in America ? including semiconductors ? can flow to customers around the world. We applaud the Administration and Congress for negotiating and approving this landmark agreement."
The USMCA incorporates several top U.S. semiconductor industry priorities, including new rules preventing parties from unfairly restricting trade of commercial encryption products, more robust protections for trade secrets and other types of intellectual property, commitments to protect the free and open flow of data across borders, and new rules aimed at ensuring state-owned enterprises compete fairly and transparently.
SIA also supports a range of USMCA provisions related to counterfeit enforcement, forced localization, competition policy, and trade facilitation. These new and higher-standard norms and disciplines will serve as important benchmarks for shaping global trade rules that preserve and strengthen the digital economy.
Canada and Mexico are strong U.S. trading partners in semiconductors and are critical players in the semiconductor supply chain. The U.S. has solid semiconductor trade surpluses with both Mexico and Canada at $6.77 billion and $1 billion, respectively.
Semiconductor Industry Association
The Semiconductor Industry Association (SIA) is the voice of the semiconductor industry, one of America's top export industries and a key driver of America's economic strength, national security, and global competitiveness. Semiconductors ? the tiny chips that enable modern technologies ? power incredible products and services that have transformed our lives and our economy. The semiconductor industry directly employs nearly a quarter of a million workers in the United States, and U.S. semiconductor company sales totaled $209 billion in 2018. SIA members account for nearly 95 percent of all U.S. semiconductor industry sales. Through this coalition, SIA seeks to strengthen leadership of semiconductor manufacturing, design, and research by working with Congress, the Administration, and key industry stakeholders around the world to encourage policies that fuel innovation, propel business, and drive international competition. Learn more at www.semiconductors.org.
SOURCE Semiconductor Industry Association (SIA)
These press releases may also interest you