SEMI Applauds Completion of World’s Largest Trade Deal

SEMI Applauds Completion of World’s Largest Trade Deal

SEMI commends the Chief Negotiators and Trade Ministers from the twelve Trans-Pacific Partnership (TPP) nations in reaching a final agreement today in Atlanta. We expect this agreement to be of the highest standard and set the rules for international trade and investment in the 21st century. 

For more than five years, these economies, representing 40 percent of global GDP, have pursued a comprehensive, commercially significant trade agreement and industry looks forward to a realization of these efforts in the TPP text.  This landmark pact has the ability to open markets, increase exports, and raise labor and environmental standards for millions of people.

Today’s announcement and subsequent Congressional notification process will provide both industry and Congress a chance to review the specifics of the language under the guidelines laid out in Trade Promotion Authority (TPA).  SEMI looks forward to a thorough examination of TPP as the ambitious step necessary to lower both tariffs and non-tariff barriers for semiconductor equipment and materials companies around the world. 

SEMI is the global industry association serving the nano- and micro-electronic manufacturing supply chains. Our 1,900 member companies are the engine of the future, enabling smarter, faster and more economical products that improve our lives. Since 1970, SEMI has been committed to helping members grow more profitably, create new markets and meet common industry challenges. SEMI maintains offices in Bangalore, Beijing, Berlin, Brussels, Grenoble, Hsinchu, Moscow, San Jose, Seoul, Shanghai, Singapore, Tokyo, and Washington, D.C. For more information, visit www.semi.org.

October 5, 2015