Washington, DC – The National Foreign Trade Council (NFTC) today submitted comments to the Commerce Department as part of the Administration’s 232 investigation of imports of semiconductors and their derivative products, and semiconductor manufacturing equipment.
The comments read, “NFTC respectfully asks that any measures adopted by the Administration through this investigation take a “do no harm” approach to the ongoing reshoring projects for advanced semiconductors. We urge the Administration to prioritize the adoption of pro-growth, non-tariff measures that facilitate the expeditious onshoring of planned advanced semiconductor manufacturing investments. Such measures could involve permitting reform, removing regulatory barriers that throttle growth and innovation, pro-growth tax policy, and a focus on the removal of trade and export barriers to U.S.-made products around the world.”
NFTC’s comments address the potential impact of Section 232 tariffs and offer non-tariff alternatives to strengthen domestic manufacturing while lessening the negative effects on the U.S. economy and the availability of these products.
“Semiconductors are everywhere and they are a key input in thousands of products Americans use every day. While we support the Administration’s efforts to ensure domestic access and production of semiconductors, chips and other derivative products, we believe we have one shot at getting this right. We are deeply concerned that getting this wrong and incorrectly applying either tariffs or non-tariff tools, will cause devastating and potentially permanent harm to this industry,” said Jeannette Chu, NFTC’s Vice President for National Security Policy. “Instead, we hope the Administration will consider the alternatives we lay out in our comments in order to ensure that the U.S. continues to build a durable and competitive industrial base that supports and enhances U.S. technology leadership for the future.”
Read our full comments here.
Earlier today the NFTC submitted comments in the Administration’s Section 232 Investigation of Imports of Pharmaceuticals and Pharmaceutical Ingredients. You can read them here.
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About the NFTC
The National Foreign Trade Council (NFTC) is the premier business association advancing trade and tax policies that support access to the global marketplace. Founded in 1914, NFTC promotes an open, rules-based global economy on behalf of a diverse membership of U.S.-based businesses.
