Semiconductor Industry Backs Trump's Tax Reform Plan

Release time:2017-09-30
author:Ameya360
source:Dylan McGrath
reading:1291

  The semiconductor industry's largest trade association has come out in favor of a framework for revising the U.S. corporate tax structure released this week by the Trump Administration and Republican leaders in Congress.

  The framework — many details of which are still unknown — would reduce the U.S. corporate tax rate to 20 percent from the current 35 percent. This would be in line with Republicans' goal to cut the corporate tax rate below the 22.5 percent average in the industrialized world.

  The framework also calls for eliminating a 35 percent tax that multinational firms currently pay for bringing profits back to the U.S. from overseas.

  John Neuffer, president of the Semiconductor Industry Association (SIA), called the tax reform framework "a step forward to make the U.S. corporate tax system more competitive and allow U.S. semiconductor companies to continue to grow and innovate here at home."

  Neuffer said the plan would advance the U.S. semiconductor industry’s core priorities for tax reform, including a lower, globally competitive rate, a modern international tax system and strong R&D incentives.

  "While there are many details of importance to our industry that need to be fleshed out, we support the plan as a framework for advancing corporate tax reform," Neuffer said in a statement.

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The Global Semiconductor Industry Reached $115.8 Billion in Q1 2018
Global semiconductor industry revenue declined 3.4 percent in the first quarter of 2018 falling to $115.8 billion. Semiconductor industry performance was negatively affected by the declining sales and first-quarter seasonality in the wireless communications market. Other sectors, such as automotive and consumer semiconductors, experienced nominal market growth, according to IHS Markit.The memory category experienced the highest growth of 1.7 percent in the first quarter, reaching $39.7 billion, as demand for memory components increased in the enterprise and storage markets. In fact, DRAM pricing and shipments both increased during the quarter, as strong demand for server DRAM continued to propel the semiconductor market. However, NAND began to show signs of softening, with slight revenue declines during the quarter, mainly due to single-digit price declines.“Even with the slight revenue decline during the quarter, the NAND market still achieved its second-highest revenue quarter on record, with strong demand coming from the enterprise and client solid-state drive markets,” said Craig Stice, senior director, memory and storage, IHS Markit.Led by its dominant position in the memory market, Samsung Electronics led the semiconductor industry in the first quarter of 2018, with 16.1 percent of the market, followed by Intel at 13.6 percent and SK Hynix at 7.0 percent. Quarter-over-quarter market shares were relatively flat, with no change in the top-three ranking list. However, on a year-over-year basis, Samsung supplanted Intel as the leading semiconductor company, compared to the first quarter of 2017.Analog component sales for Texas Instruments, Maxim Integrated, ON Semiconductor and other companies with a strategic focus on industrial and automotive industries managed single-digit sales increases in the first quarter. In contrast, analog component revenue declined by double digits for Qualcomm, Skyworks Solutions, Oorvo and other companies targeting the wireless industry.Memory IC companies — Samsung Electronics, SK Hynix, Micron Technologies and Toshiba — continued to dominate the top ten semiconductor companies. Micron achieved the highest growth rate in the top ten, recording 9.8 percent growth in the first quarter, compared to the previous quarter. Qualcomm revenue fell 13.6 percent, which was the largest sequential drop, due to the weakness in the wireless communication market. Qualcomm and NVIDIA were the only two fabless companies remaining in the top ten.
2018-06-29 00:00 reading:1094
Semiconductor Industry Backs Trump's China Probe
  The semiconductor industry's largest trade group reacted quickly to a memorandum by U.S. President Donald Trump authorizing the investigation of China's trade practices, offering support and saying it has long voiced concern over "market-distorting" aspects of China's industrial policy.  "The U.S. semiconductor industry stands ready to work with the Trump Administration to protect American intellectual property and critical technology from theft or forced transfer in foreign markets," said John Neuffer, president of the Semiconductor Industry Association (SIA), in a press statement released Monday.  Neuffer's statement was issued shortly after Trump announced the memorandum in widely televised event at the the White House. The memorandum directs U.S. Trade Representative Robert Lighthizer to investigate China's laws, policies practices and actions that may be unreasonable or discriminatory and that may be harming American intellectual property, innovation and technology.  "This is just the beginning," Trump said of the memo.  China's stance on intellectual property rights has long been criticized by the semiconductor industry and other U.S. high-tech industries. Chip makers have complained about being enticed by the Chinese government to establish joint ventures with local companies as a condition for setting up manufacturing in China, which they say ultimately results in intellectual property theft.  "While China is an important part of the global semiconductor value chain, SIA has long raised concerns about market-distorting aspects of its state-led industrial policy — such as forced technology transfer practices — that disadvantage U.S. companies and imperil their IP," Neuffer said in Monday's statement. "A balanced, fair, objective and thorough investigation aimed at ensuring that China meets its global trading obligations and that market forces determine competitive outcomes will be helpful to address these market-access issues."  A White House statement issued Monday said China has implemented laws and taken actions that encourage the transfer of American technology and intellectual property to Chinese firms. For example, the statement said, "U.S. companies can be required to enter into joint ventures with Chinese companies if they want to do business in China, resulting in Chinese companies forcibly acquiring U.S. intellectual property."
2017-08-16 00:00 reading:1096
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