Taiwan to boost domestic industry after Trump tariff threat

Taiwan’s government is moving quickly to study whether it needs to boost its domestic industry in the face of Trump’s threats to impose tariffs on imported semiconductors, Taiwanese Premier Chu Jung-tai said on Monday.

Taiwan is a key hub in the global technology supply chain, home to the world’s largest contract chipmaker, Taiwan Semiconductor Manufacturing Co. (TSMC), which supplies advanced chips to companies such as Apple and Nvidia.

Trump announced on Monday that he would impose tariffs on imported chips, pharmaceuticals and steel to encourage manufacturers to produce these products in the United States.

Chu said Taiwan’s Ministry of Economy and relevant authorities were closely monitoring the latest developments. “In a day or two, we will do an urgent study to see if we need to come up with future cooperation plans and support programs for the industrial sector,” he said, according to Reuters.

The premier stressed the importance of Taiwan continuing to strengthen international cooperation to maintain its leadership in the industrial and technological sectors.