Semiconductor CEOs urge congress to enact Trade Promotion Authority

The Semiconductor Industry Association (SIA) today applauded the Bipartisan Congressional Trade Priorities and Accountability Act of 2015 (TPA-2015), legislation introduced today by Senate Finance Committee Chairman Orrin Hatch (R-Utah), Ranking Member Ron Wyden (D-Ore.), and House Ways and Means Committee Chairman Paul Ryan (R-Wis.). The SIA board of directors, led by Intel CEO and SIA chairman Brian Krzanich, sent a letter today to congressional leaders expressing support for the legislation and urging its swift passage. Additionally, SIA president and CEO John Neuffer released the following statement in support of the bill:

“SIA strongly supports Trade Promotion Authority (TPA) and applauds the introduction of this bipartisan legislation. TPA paves the way for free trade by empowering U.S. negotiators to reach final trade agreements consistent with negotiating objectives laid out by Congress. Free trade is especially critical to the U.S. semiconductor industry, which designs and manufactures the chips that enable virtually all electronics. Our industry relies on a global ecosystem of materials and equipment suppliers, technology providers, services, R&D, and customers, so we depend on open access to international markets.

“In 2014, U.S. semiconductor company sales totaled $173 billion, representing over half the global market, and 82 percent of those sales were to customers outside the United States. The U.S. semiconductor industry employs nearly 250,000 people in high-skilled, high-wage jobs in America, and supports over one million additional U.S. jobs. Since most of the U.S. semiconductor industry’s customers are abroad, free trade is critical to creating and supporting these U.S. jobs.

“The United States is currently pursuing the Trans-Pacific Partnership (TPP) and the Transatlantic Trade and Investment Partnership (TTIP), two important trade agreements that would result in billions of dollars in global trade of semiconductor products. Without TPA, these agreements may never see the light of day.

“TPA makes sense for America and for the future prosperity of Americans. We commend Chairman Ryan, Chairman Hatch and Ranking Member Wyden for introducing this pro-growth legislation and urge lawmakers to act swiftly to approve it.”

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One thought on “Semiconductor CEOs urge congress to enact Trade Promotion Authority

  1. Nick Langston

    It is ludicrous that any one would approve this agreement without knowing what it agrees to. The last time so many CEO’s approved a trade agreement, Nafta, 650000 jobs were sucked out of California, CEO salaries and bonuses went up by millions and workers had to leave their homes. DON’T DO IT unless you’ve read it and understand how the American workers life is improved. This is a “Fast Track” which means people won’t get to learn what is in it.

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