During his speech, Donald Trump warned Taiwan Semiconductor Manufacturing Company (NYSE: TSM) that it would need to pay a full 100% tax if the company does not establish its manufacturing facilities in America. During a Republican National Congressional Committee event, Trump criticized how the Biden administration provided TSMC with $6.6 billion to establish operations in Phoenix, Arizona.
“I gave them no money. Trump stressed his position by declaring that TSMC would face high taxation if it refused to construct its facilities within the United States.
Trump’s statements demonstrate a nationwide initiative to strengthen American semiconductor autonomy during times of worldwide supply chain instability. The United States is intensifying its efforts to reduce chip dependency on foreign manufacturers because lawmakers recognize growing geopolitical risks with Taiwan and other suppliers.
TSMC has not provided any official statement regarding Trump’s comments, but the company previously declared plans to invest $100 billion in its U.S. expansion by building up to five chip fabrication facilities.
Taiwan wants the United States to lift the current 32% tariffs that are currently in place. The Taiwanese government presented a zero-tariff proposal to the United States while making promises to boost U.S. investments and product acquisitions.
TSMC stands as a pivotal player in an intense economic and political struggle between different nations. Semiconductor policy has become a critical matter for the upcoming 2024 election because Trump uses trade tactics while Biden supports financial aid to maintain America’s technological dominance. During his speech, Donald Trump warned Taiwan Semiconductor Manufacturing Company (NYSE: TSM) that it would need to pay a full 100% tax if the company does not establish its manufacturing facilities in America. During a Republican National Congressional Committee event, Trump criticized how the Biden administration provided TSMC with $6.6 billion to establish operations in Phoenix, Arizona.
“I gave them no money. Trump stressed his position by declaring that TSMC would face high taxation if it refused to construct its facilities within the United States.
Trump’s statements demonstrate a nationwide initiative to strengthen American semiconductor autonomy during times of worldwide supply chain instability. The United States is intensifying its efforts to reduce chip dependency on foreign manufacturers because lawmakers recognize growing geopolitical risks with Taiwan and other suppliers.
TSMC has not provided any official statement regarding Trump’s comments, but the company previously declared plans to invest $100 billion in its U.S. expansion by building up to five chip fabrication facilities.
Taiwan wants the United States to lift the current 32% tariffs that are currently in place. The Taiwanese government presented a zero-tariff proposal to the United States while making promises to boost U.S. investments and product acquisitions.
TSMC stands as a pivotal player in an intense economic and political struggle between different nations. Semiconductor policy has become a critical matter for the upcoming 2024 election because Trump uses trade tactics while Biden supports financial aid to maintain America’s technological dominance.
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