Trump threatens Taiwan’s chipmakers with sweeping tariffs – INA NEWS
US President Donald Trump has stated he plans to impose tariffs as excessive as 100% on imported chips and semiconductors from international producers akin to Taiwan. He additionally pledged to put sweeping tariffs on prescription drugs and metal to be able to compel producers to relocate manufacturing to the US.
Addressing Republican Get together members on Monday, Trump stated that his administration will implement the tariffs “within the very close to future,” “to return manufacturing of those important items to the USA of America.”
The US president argued that manufacturing of pc chips and semiconductors “left us and went to Taiwan, which is about 98% of the chip enterprise, by the way in which.”
“And we wish them to return again, and we don’t wish to give them billions of {dollars}, like this ridiculous program that Biden has,” Trump stated.
He was referring to former President Joe Biden’s program of offering subsidies to chip makers akin to Intel to supply within the US. Biden’s CHIPS and Science Act, signed into legislation in 2022, earmarked $53 billion in subsidies for microchip firms in an effort to spice up US competitiveness and meet up with China.
The remarks are the newest in a sequence of trade-related threats issued by Trump in current days. He has additionally vowed to impose 25% tariffs on imports from Canada and Mexico, until each nations tackle US calls for concerning border safety and drug trafficking points.
Responding to Trump’s tariff threats on Tuesday, Taiwan’s Financial system Ministry stated that the semiconductor commerce between Taiwan and the US is mutually useful, describing it as a “win-win” mannequin.
House to the world’s largest contract chipmaker, Taiwan Semiconductor Manufacturing Co. (TSMC), the island is a crucial hyperlink within the world know-how provide chain.
“Taiwan and the US semiconductor and different know-how industries are extremely complementary to one another, particularly the US-designed, Taiwan-foundry mannequin, which creates a win-win enterprise mannequin for Taiwan and US industries,” the Taiwanese Financial system Ministry stated as cited by Reuters.
TSMC produces semiconductors for main US clients, together with Nvidia and Apple. In 2024, North American patrons accounted for 70% of TSMC’s complete income, in keeping with estimates by Reuters. Beijing considers self-governed Taiwan a part of its territory below its ‘One China’ precept and opposes international interference.
Whereas the US formally adheres to the ‘One-China’ coverage, it has continued to provide arms to the island and interact in army cooperation with the federal government in Taipei.
Trump threatens Taiwan’s chipmakers with sweeping tariffs
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