The World Trade Organization (WTO) has played a crucial role in the growth and innovation of the global semiconductor industry over the past 25 years. The steady opening of markets and leveling of the global playing field, spearheaded by the WTO, has been critical to the success of the semiconductor industry. The ability to move semiconductor goods and materials freely, fairly, and efficiently across borders has been critical to the industry’s success and technological progress. The WTO has helped make this progress possible by opening markets and implementing uniform rules of trade. Landmark WTO agreements like the Information Technology Agreement (ITA) and ITA Expansion, Trade-Related Aspects of Intellectual Property Rights (TRIPS), and the Trade Facilitation Agreement (TFA) have drastically reduced the cost of trade, lowered consumer prices, and expanded access to productivity-enhancing tech products to people around the world. This has in turn spurred technological progress and innovation in a virtuous circle of innovation.
