House Needs to Get Trade Promotion Authority Across Finish Line
Friday, Jun 12, 2015, 9:00pm
by John Neuffer, President and CEO
SIA is encouraged the House of Representatives today voted in favor of Trade Promotion Authority (TPA) on a bipartisan basis, but we are disappointed it failed to approve accompanying legislation that would allow TPA to be signed into law by the president. The failure to get TPA across the finish line is a missed opportunity to boost the United States’ economic strength and global competitiveness.
TPA facilitates free trade, economic growth, and the spread of innovation. TPA empowers U.S. trade negotiators to reach final agreements consistent with negotiating objectives laid out by Congress. Free trade is critical to the American economy, fostering the spread of innovation and commerce globally. Trade is especially important to the U.S. semiconductor industry, which relies on a global network of materials and equipment suppliers, R&D providers, and customers. Eighty-two percent of U.S. semiconductor sales are to customers overseas, and semiconductors are one of America’s top exports.
Failure to enact TPA would be a significant setback for growth and innovation in the semiconductor industry and across the U.S. economy. We urge House members to work together over the next few days to do what’s right for our industry, our economy, and our country by finally getting TPA across the finish line.