The US chip industry has called on the US government to end restrictions on China！

August 17, 2023

Last month, Reuters reported that on Monday local time, the U.S. State Department and sources said that executives of U.S. chip companies met with senior officials of the Biden administration on the 17th to discuss China policy. Also on the agenda of discussions between semiconductor executives and Biden administration officials was speeding up the payment of government funds set aside for semiconductor companies in the Chip Act, the sources said.
Administration officials, including Commerce Secretary Gina Raimondo, White House National Economic Council Director Lael Brainard and White House National Security Adviser Jake Sullivan, are weighing new restrictions on China, Bloomberg previously cited people familiar with the matter as saying. Met with top executives from US chipmakers including Intel, Qualcomm and Nvidia to discuss policy towards China.

Executives from Intel, Nvidia and Qualcomm hope to persuade US officials to ease proposed new export restrictions on China, according to people familiar with the matter. It was previously reported that the Biden administration had planned to announce the new restrictions within weeks.

Chip industry

At the same time, the SIA, which represents 98% of the US semiconductor industry, also urged the Biden administration this week to stop considering additional restrictions on China and urged the government to allow the industry continued access to the Chinese market, because China is the world's largest commercial market for commodity semiconductors (related reading: SIA warns that new restrictions on China could backfire).
Clearly, with the Biden administration considering a new round of restrictions on Chinese chip exports, the U.S. chip industry is eager to protect its profits in China. According to the Semiconductor Industry Association (SIA), China's semiconductor purchases in 2022 amounted to $180 billion, accounting for more than a third of the global total of $555.9 billion, making it the largest single market.
U.S. Treasury Secretary Janet Yellen said earlier that proposed restrictions on Chinese investment would not fundamentally harm China's ability to attract U.S. investment.

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