Trump claims Taiwan ought to pay the bill for American defence; TSMC's stock falls
By MYBRANDBOOK
According to Donald Trump, Taiwan "doesn't give us anything," so he believes the island nation ought to pay the bill for American defence. Apparently tying his remarks to one of the most developed chip industries in the world—Taiwan—Trump said that Taiwan accounted for "about 100%" of the US chip market. As a result of Trump's remarks, TSMC shares closed 2.4% down in Taiwan.
Beijing considers democratically governed Taiwan as a part of its territory, and Chinese President Xi Jinping has previously said reunification with the mainland was “a historical inevitability.”
The Semiconductor Industry Association has said Taiwan manufactures 92% of advanced microchips.
The U.S. was once a major player in semiconductor manufacturing, but shifting trends in the industry, such as companies moving away from making their own chips, led to the rise of Taiwan Semiconductor Manufacturing Co., or TSMC, and other major Taiwanese firms. Taiwan is expected to account for 66% of production of the world’s most advanced chips this year, according to TrendForce data.
The U.S. is expected to account for 6% of manufacturing. TSMC is the world’s largest and most advanced chipmaker responsible for manufacturing chips for major American firms like Apple and Nvidia. Shares of TSMC closed 2.4% lower in Taiwan after the release of Trump’s comments.
Under the Biden administration, the U.S. has sought to bring more chip manufacturing back to its shores via grants enticing companies like TSMC and Samsung to expand their production facilities.
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