US moves to restrict trade threatens chip industry: China industry association

BEIJING, July 19 (Reuters) – The U.S. government’s moves to restrict trade threatens globalisation in the semiconductor sector and consumer interests, the China Semiconductor Industry Association said on Wednesday. “Any damage to the current global supply chain, which developed over the past decades alongside the process of globalisation, could create inevitable and irreparable harm to the global economy,” the association said in a statement. China’s semiconductor industry welcomes open cooperation and will continue to innovate, the statement said. The industry association’s statement came after U.S. chip company executives met with top Biden administration officials on Monday to discuss China policy….