National Security Concerns Regarding TikTok - A deal on TikTok is contingent upon safeguards for US national security and the interests of citizens, especially children [1] - Concerns exist regarding the CCP's access to the data of 170 million Americans and its potential weaponization [7] - The CCP's access to American's data stored in China was used to surveil journalists reporting on TikTok [7] - The industry emphasizes that national security should not be compromised in any agreement [5] Potential Deal Framework and Ownership - A potential deal depends on conversations between President Xi and President Trump [2] - A deal is welcomed if ByteDance's ownership of TikTok is less than 20% and there's no operational control between TikTok USA and ByteDance [3] - The industry is awaiting details of the framework agreement to ensure national security is protected [5] - Oracle potentially hosting data in the United States could be a satisfactory solution [8][9] Broader Geopolitical and Trade Issues - Concerns exist that President Trump might allow TikTok to be used for leverage in broader negotiations with China [5][10] - The CCP may seek to relax export controls on high-density semiconductor chips [10] - Export controls are in place to prevent CCP-controlled entities from using advanced semiconductor chips for military modernization and human rights abuses [11] - The industry aims to work with allies to create a robust trading and innovation market, but the CCP cannot be trusted [13]

Supply Chain Vulnerability & Geopolitical Risks - The industry acknowledges the fragility of global supply chains, particularly concerning reliance on China and Russia [2][3][4] - China's use of export controls on critical minerals like rare earths, gallium, and antimony poses a coercive threat to the United States [3] - Russia's actions regarding uranium stocks also present a potential risk to the US [3] Reshoring & Domestic Manufacturing - Major drug manufacturers have announced multi-billion dollar investments to build manufacturing facilities in the US [5] - The administration supports incentivizing domestic manufacturing through measures like tax incentives [5] - An executive order aims to establish price floors through long-term demand contracts, similar to the strategy used with rare earths, to protect domestic producers from unfair dumping by foreign countries [7] Tariffs & Trade Policy - Concerns exist that tariffs may raise costs for drug manufacturers and hinder their ability to profitably establish domestic production [6] - The executive order seeks to counter the practice of foreign countries, particularly China and India, dumping capacity product into US markets [7] Government Intervention & Emergency Response - The government demonstrated the ability to rapidly establish domestic production capabilities during the pandemic, such as ventilator factories in 14 days [9] - The administration emphasizes the importance of protecting American manufacturers [9]

Geopolitical & Regulatory Risks - US President Donald Trump calls for Intel CEO's resignation due to concerns about ties to China, following Senator Tom Cotton's letter to the board [1] - The board is expected to investigate the CEO's investments in Chinese companies, potentially minority investments, to assess due diligence [2] - Intel previously pleaded guilty to violating US export controls by sending semiconductors to a Chinese military university [6] - The administration may increase pressure on China regarding export controls, impacting companies like AMD seeking licenses [6][7] - Determining the end customer for chips is difficult due to bulk sales and numerous resellers, making it hard to track usage [7][8] Semiconductor Manufacturing & Industry Dynamics - Intel's situation highlights the administration's focus on reviving domestic semiconductor manufacturing [4] - Reviving Intel is crucial for the US to revitalize semiconductor manufacturing at an advanced level [4][6] - Establishing an advanced node fab takes time, as seen with TSMC in Arizona, requiring a multiyear investment [5] - Export controls and Section 232 investigations add complexity to the semiconductor industry [7]