Intel is the world's largest semiconductor manufacturer and a world leader in computing innovation. Intel does about three quarters of its advanced manufacturing and R&D in the United States, yet generates more than three quarters of its revenue from outside the United States. Semiconductors have been one of the top U.S. exports for many years.
Intel strongly supports robust free trade agreements (FTAs), which open up foreign markets and level the playing field so that U.S. businesses can keep growing. America’s 20 existing FTA partners purchase nearly half of all U.S. manufactured goods exports, even though they account for less than 10% of the global economy. According to the Peterson Institute for International Economics, real incomes for Americans are 9% higher than they would have been due to more open trade. Jobs linked to exports pay, on average, 18% more than other jobs.
The U.S. government should negotiate more FTAs, conclude the Trans-Pacific Partnership Agreement and Transatlantic Trade and Investment Partnership, and enact Trade Promotion Authority. Well-crafted and consistently enforced FTAs minimize and remove trade barriers that can cripple U.S. businesses.