汇丰：中国半导体行业 - 关税可能带来又一个 “新冠式” 周期
汇丰·2025-04-21 05:09
16 April 2025 Equity Research Report China Semiconductor Equities Tariffs may bring about another "COVID-19" cycle China's latest import tariff rules imply strong localisation incentives and a better competition landscape ahead. According to the China Semiconductor Association, the 125% tariff on US goods (effective 12 April) applies to chips that are taped out in the US instead of the location of chip fabrication or packaging. We believe this policy will affect the chip sales of major US integrated device ...