US trade curbs threatens globalisation in chip industry, hurt consumer interests – China’s industry association

 

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The US moves to restrict trade threatens globalisation in the semiconductor sector and hurt consumer interests, the China Semiconductor Industry Association said in a statement on Wednesday, after US chip company executives met with top Biden administration officials on Monday to discuss China policy.

China’s semiconductor industry welcomes open cooperation and will continue to innovate with global partners, it said.

Mainland China accounts for more than four-fifths of the global semiconductor market, supporting the supply of electronic and information technology products while contributing to the well-being of people around the world, including the least developed countries, it said.

Any damage to the current global supply chain could create “inevitable and irreparable harm” to the global economy and such harm could fragment the global chip supply chain and risk the integrity and prosperity of the global economy, it said.

The association warned that as a consequence of the restrictions, the interests of global consumers will be harmed, the competitiveness of the US semiconductor industry might be jeopardized, and globalization could be threatened. These generate shared concerns around the world, including the US, it added.