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【Analysis of U.S. Semiconductor Tariff Policy Dynamics】

I. Key Points of Policy Adjustment:

1. Latest Announcement from U.S. Customs:

- Temporary exemption for certain electronic products (mobile phones/computers) from tariffs

- Special semiconductor tariffs will officially take effect next month

2. Statements from Key Figures:

- Secretary of Commerce Raimondo emphasized that "the policy has a phased characteristic"

- Former President Trump stated via social media that "there is room for adjustment in the current policy"

II. Industry Impact Analysis:

1. Origin Certification Disputes:

- Chinese Customs clarified that "the wafer fabrication site is considered the origin of the chip"

- This has led to challenges in supply chain restructuring for some multinational companies (e.g., Texas Instruments)

2. Market Reactions:

- After China implemented a 34% reciprocal tariff:

• The capacity utilization rate of domestic semiconductor manufacturers significantly increased

• Companies like Yangtze Memory Technologies adjusted product pricing strategies (approximately 10% increase)

• A phenomenon of supply chain localization substitution has emerged

III. Industry Impact Assessment:

The current tariff policy is reshaping the global semiconductor supply chain landscape; it is recommended that the industry pay attention to:

1. Evolution of origin certification standards

2. Capacity allocation strategies of multinational companies

3. Secondary market price transmission effects