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Newscasts - CEOs of European chip makers warn against nationalist policies
Oggi 16:09 - RSF
Description: The CEOs of Europe's three biggest computer chip makers on Monday (November 11) said that demands by the U.S., Chinese and European governments that each region have its own semiconductor production are a worsening obstacle to business. Fiona Jones reports.
Video Transcript:
The CEOs of Europe's three biggest computer chipmakers have warned against nationalistic industrial policies. They've said that demands by the US, Chinese, and European governments that each region have its own semiconductor production are a worsening obstacle to business. They made a rare appearance this week at the Web Summit, as world leaders gathered in Azerbaijan for the COP29 climate summit. It followed last week's election of Donald Trump to the US presidency for a second term. CEOs of Germany's Infineon, French-Italian firm STMicroelectronics, and the Netherlands' NXP said their businesses have been suffering. That's due to uncertainty and the trend toward policies of industrial self-reliance seen over the past decade. NXP said that simply no company could dominate the chip industry or be independent from the rest of the world. And if it was possible, it would become so expensive that no one could afford any device which uses chips. Infineon warned that tariffs are "written on the wall." All three firms are major suppliers of chips used for cars, electrical power controls, and industry. The head of STMicroelectronics said that recreating supply and production chains on separate continents to make "China for China and West for West" chips has been costly. And trade tensions between China and the West may worsen. President-elect Donald Trump has gained importance as a problem for China which already faces EU tariffs.
That's because of Trump's campaign to impose 20% tariffs on all foreign goods, and 60% on Chinese goods. Ahead the COP29 summit, China had asked to include their concerns about these policies on the agenda. But Beijing withdrew its proposal and has settled instead for informal talks on trade issues.