Taiwan’s President Lai Ching-te addressed anxieties regarding the Taiwan Semiconductor Manufacturing Company (TSMC) announcing a significant $100 billion investment in the U.S. This move, seen as a potential threat by many in Taiwan, is framed by Lai as an opportunity for international cooperation and economic growth.
Taiwan's President Assures Public on TSMC's $100 Billion U.S. Investment
Taiwan's President Assures Public on TSMC's $100 Billion U.S. Investment
In response to domestic concerns, President Lai Ching-te emphasizes the benefits of TSMC’s investment for Taiwan.
President Lai Ching-te of Taiwan on Thursday sought to reassure his citizens concerning the Taiwanese chip giant TSMC's $100 billion investment plan in the United States. The announcement, made on Monday, has sparked local anxiety and criticism amid fears that the company, which is central to Taiwan's economy and security against Chinese claims, may be diverting resources abroad.
Taiwan Semiconductor Manufacturing Company (TSMC), known as the largest chip manufacturer globally, indicated it would utilize this investment over the next four years to expand its production in Arizona, focusing on chips for artificial intelligence and advanced technologies. This brings its total planned expenditure in the U.S. to $165 billion, significantly exceeding previous commitments, raising concerns among Taiwanese citizens who view the semiconductor sector as essential for their nation's economic stability.
In a press conference held in Taipei, alongside TSMC’s chief executive C.C. Wei, President Lai affirmed that this initiative would ultimately strengthen TSMC, Taiwan, and the United States. Highlighting the positive outcomes of such global initiatives, he stated, "We have seen every time that with each initiative by TSMC, TSMC has grown even stronger and more competitive while also providing Taiwan’s businesses with opportunities for international cooperation.”
Lai's comments come against a backdrop of pressure from former President Trump, who has urged Taiwan to expand semiconductor production domestically to mitigate reliance on Taiwan and threatened tariffs if the Taiwanese do not comply. Nevertheless, Lai expressed confidence that Taiwan could successfully extend its influence across the Pacific, opening doors to the American market.
Taiwan Semiconductor Manufacturing Company (TSMC), known as the largest chip manufacturer globally, indicated it would utilize this investment over the next four years to expand its production in Arizona, focusing on chips for artificial intelligence and advanced technologies. This brings its total planned expenditure in the U.S. to $165 billion, significantly exceeding previous commitments, raising concerns among Taiwanese citizens who view the semiconductor sector as essential for their nation's economic stability.
In a press conference held in Taipei, alongside TSMC’s chief executive C.C. Wei, President Lai affirmed that this initiative would ultimately strengthen TSMC, Taiwan, and the United States. Highlighting the positive outcomes of such global initiatives, he stated, "We have seen every time that with each initiative by TSMC, TSMC has grown even stronger and more competitive while also providing Taiwan’s businesses with opportunities for international cooperation.”
Lai's comments come against a backdrop of pressure from former President Trump, who has urged Taiwan to expand semiconductor production domestically to mitigate reliance on Taiwan and threatened tariffs if the Taiwanese do not comply. Nevertheless, Lai expressed confidence that Taiwan could successfully extend its influence across the Pacific, opening doors to the American market.
