On the afternoon of November 6, Beijing time, the results of the 2024 U.S. election were released, and Trump successfully won 270 electoral votes and is about to become the 47th president of the United States. This result will undoubtedly have a profound impact on the global semiconductor industry, especially China's semiconductor industry.
During the campaign and in recent interviews, Trump expressed strong dissatisfaction with the CHIPS and Science Act. He believes that the bill is unwise to encourage overseas companies to set up factories in the United States through subsidies and tax incentives, and prefers to force these companies to invest in the United States through tariffs. This stance may hinder the implementation of the CHIPS Act, which in turn will affect the localization development plan of the U.S. semiconductor industry.
Trump also said that if elected, he would increase tariffs on Taiwanese chip imports to the United States. If implemented, this policy will increase the cost of the entire semiconductor supply chain and cause volatility in the global semiconductor market. At the same time, Trump's tariffs could also trigger a trade war, further exacerbating tensions in the global semiconductor market.
For China's semiconductor industry, measures such as restricting technology exports and increasing tariffs that Trump may take after taking office will bring considerable challenges. However, some industry insiders believe that these restrictions may accelerate the process of China's semiconductor localization. Once domestic substitution is completed, US sanctions in this regard will lose their meaning.
To meet the challenges that may arise from Trump's inauguration, Chinese companies need to adopt the following strategies:
1. Strengthen independent research and development: increase R&D investment in the field of semiconductors, enhance independent innovation capabilities, and reduce dependence on external technologies. Through independent research and development, we can realize the independent and controllable technology and enhance the core competitiveness of the enterprise.
2. Diversified supply chain: actively look for diversified supply chain sources and reduce dependence on a single source. Improve the flexibility and stability of the supply chain by expanding supply chain channels to cope with possible trade barriers and tariff restrictions.
3. Strengthen international cooperation: Strengthen cooperation with semiconductor companies in other countries and regions to jointly respond to market changes that may be brought about by Trump after taking office. Through international cooperation, we will share resources and complement each other's advantages, and enhance the international competitiveness of China's semiconductor industry. /4. Pay attention to policy trends: Pay close attention to the policy dynamics of the United States and the global semiconductor industry, and keep abreast of the policy measures that Trump may take after taking office. Through in-depth research on policy trends, it provides strong support for strategic decision-making of enterprises.
5. Strengthen talent training: increase the training and introduction of talents in the semiconductor field, and improve the talent quality and innovation ability of the entire industry. Through talent training, it provides a solid talent guarantee for the long-term development of China's semiconductor industry.
Trump's election as president of the United States will have a significant impact on the global and Chinese semiconductor industry. In order to cope with these impacts, Chinese companies need to strengthen their efforts in independent R&D, diversifying their supply chains, strengthening international cooperation, paying attention to policy developments, and strengthening talent development. Through the implementation of these measures, China's semiconductor industry is expected to maintain a competitive advantage in the global market and achieve sustainable development.
