US semiconductor association calls for easing of chinese export sanctions! (update)

4:01 PM 17 July 2023

The Semiconductor Industry Association (SIA) today issued a statement regarding potential additional government restrictions on semiconductors. According to the association: "the imposition of overly broad, ambiguous, and sometimes unilateral restrictions could reduce the competitiveness of the US semiconductor industry, disrupt supply chains, create significant market uncertainty, and prompt China to further escalate retaliation".

The agency calls for an easing of the situation and a two-way dialogue. US Treasury Secretary Janet Yellen also commented on the situation in China and the US at midday today. According to Yellen, the US is not heading for a recession and the dialogue with high-ranking Chinese officials was substantive and promising.

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Update 5pm BST

Representatives from US semiconductor companies will hold a meeting today with the US Secretary of Commerce and the National Security Advisor.

Semiconductor companies are doing relatively well today. Source: xStation 5

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