WASHINGTON, May 17, 2019 /CNW/ -- SEMI, the association representing the end-to-end global electronics industry supply chain, today provided the following statement from Mike Russo, VP of Global Industry Advocacy, regarding the escalation in tensions between the U.S. and China regarding trade:
"We continue to monitor what appears to be a deteriorating situation between the U.S. and China related to their ongoing trade negotiations. The escalation in tariffs as well as the recent supply chain executive order and Department of Commerce action against Huawei are cause for increasing concern as those actions disrupt the supply chain and run counter to all-important market access.
"The globally integrated, complex supply chain that underpins our industry requires the world's largest economies to lead the way by establishing rules that ensure access to markets and protect IP. Reaching an agreement that is aligned with SEMI's global trade principles would be mutually beneficial to the two nations as well as our global industry, and we are hopeful that such an agreement can still be reached."
SEMI® connects more than 2,100 member companies and 1.3 million professionals worldwide to advance the technology and business of electronics design and manufacturing. SEMI members are responsible for the innovations in materials, design, equipment, software, devices, and services that enable smarter, faster, more powerful, and more affordable electronic products. Electronic System Design Alliance (ESD Alliance), FlexTech, the Fab Owners Alliance (FOA) and the MEMS & Sensors Industry Group (MSIG) are SEMI Strategic Association Partners, defined communities within SEMI focused on specific technologies. Visit www.semi.org to learn more, contact one of our worldwide offices, and connect with SEMI on LinkedIn and Twitter.