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SIA Applauds Launch of Indo-Pacific Economic Framework
May 27, 2022 | SIAEstimated reading time: Less than a minute
The Semiconductor Industry Association (SIA) released the following statement from President and CEO John Neuffer regarding President Biden’s recent announcement that he is launching the administration’s Indo-Pacific Economic Framework (IPEF). IPEF aims to define shared objectives around trade facilitation, standards for the digital economy and technology, supply chain resiliency, decarbonization and clean energy, infrastructure, and other areas.
“We applaud the Biden administration’s decision to take forward the Indo-Pacific Economic Framework. The importance of the Indo-Pacific region for U.S. semiconductor manufacturing and supply chains cannot be overstated. In fact, U.S. semiconductor exports to the region totaled $13.5 billion in 2021, accounting for 23% of total U.S. semiconductor exports, and a whopping $90 billion in sales.
“SIA looks forward to working closely with the Commerce Department and USTR to finalize an IPEF that unites the Indo-Pacific’s key economies around a strong set of rules and disciplines that boost America’s supply chain resiliency.”
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