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China Council for the promotion of international trade (CCPIT) and China International Chamber of Commerce (ICC) said on the US chip and science act t

Update time : 2022-08-12 16:40:55

On August 9 local time, US President Biden formally signed the Electronic Components and Science Act. The bill aims to enhance the advantages of the United States in the chip field and launch unfair competition in this field with "any country of concern" including China, which will intensify the global geopolitical competition of the semiconductor industry and hinder the global economic recovery and innovation growth. China Council for the promotion of international trade and China International Chamber of Commerce said that we advocate and actively promote benign, fair and just international competition, and oppose the United States using national power to obstruct normal exchanges and cooperation of the global business community, and launch unfair competition on the basis of discriminating against other countries
According to the chapter of "chip act 2022" in the chip and Science Act, measures such as providing huge subsidies to the chip industry in the United States and providing investment tax credits for semiconductor and equipment manufacturing will be taken to encourage enterprises to build factories in the United States. China Council for the promotion of international trade and China International Chamber of Commerce pointed out that these Provisions discriminated against some foreign enterprises, highlighting that the United States and Italy are using government forces to forcibly change the international division of labor in the semiconductor field, and harming the interests of enterprises in the world, including Chinese and American Enterprises.
On the one hand, this is a typical industry-specific subsidy, which does not conform to the non discrimination principle of the WTO; On the other hand, the bill has identified some countries as key targets and targets, which has forced enterprises to adjust their global development strategy and layout. In particular, the bill has a broad definition of "any country of concern", infinitely expanding the discretion of law enforcement, with a typical pan politicized color, and the business activities of enterprises in various countries have greatly increased uncertainty. In addition, the "research and innovation" section of the act stipulates that a series of measures shall be taken to ensure that the technologies developed under the "made in America" project are produced in the United States. These regulations not only restrict the fair participation of enterprises in some countries in global competition, but also have a negative impact on global economic recovery and innovation growth.
China Council for the promotion of international trade and China International Chamber of Commerce said that the entry into force and implementation of the bill will affect the optimal configuration, safety and stability of the global chip industry chain supply chain, seriously disrupt the normal economic, trade and investment activities of enterprises in various countries under the basic market rules, and run counter to the general desire of the global business community to strengthen exchanges and cooperation. China Council for the promotion of international trade (CCPIT) and China International Chamber of Commerce (ICC) expressed firm opposition to this, and called on the global business community to work together to eliminate the adverse impact of the bill on the business community, and take effective measures to safeguard their legitimate rights and interests when necessary.

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