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According to McKinsey research, the semiconductor industry has soared to become the fourth largest industry globally, underpinning multiple pivotal sectors. Amidst significant shifts in the global trade landscape, the imposition of high tariffs and material export restrictions by countries like the United States and China has heightened the susceptibility of supply chains. The impact of these tariffs hinges on the elasticity of product demand, prompting enterprises to adopt varied strategies: from cost pass-throughs and supply chain reconfigurations to strengthening government relations. Industries characterized by inelastic demand are more prone to price hikes, while high tariffs can pose challenges for enterprises to shoulder the tariff burden independently.
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