"Semiconductor Industry Fights Against US Export Restrictions to China"

Executives from leading U.S. semiconductor manufacturers, including Intel, Qualcomm, and Nvidia, met with the Biden administration to push back against proposed restrictions on chip exports to China. The Semiconductor Industry Association (SIA) argued that stricter controls could undermine investments made under the CHIPS Act and reduce the global market for American-made semiconductors. China accounted for over one-third of the global market for semiconductors last year, making it the largest single market. The SIA urged the U.S. government to engage more extensively with industry and experts before imposing further restrictions. The Biden administration is reportedly considering new restrictions on exports of advanced chips used in artificial intelligence systems to China.