Jan 10, 2025 06:09 PM IST
Taiwan anticipates minimal impression from U.S. tariffs on semiconductors because of technological superiority, in response to Financial system Minister Kuo Jyh-huei.
Taiwan solely expects a small impression from any tariffs imposed by the incoming authorities of U.S. President-elect Donald Trump on semiconductor exports given their technological superiority, Financial system Minister Kuo Jyh-huei stated on Friday.
House to the world’s largest contract chipmaker, Taiwan Semiconductor Manufacturing Co. (TSMC), the island is a key hyperlink within the world expertise provide chain for corporations resembling Apple and Nvidia.
However Taiwanese policymakers have warned new U.S. tariffs in opposition to all international locations from the Trump administration may curb financial development this yr for the export-dependent economic system.
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Trump has pledged a blanket tariff of 10% on world imports into the USA and a far larger 60% tariff on Chinese language items. In late November, he particularly pledged a 25% tariff on imports from Canada and Mexico when he takes workplace on Jan. 20.
Requested at a information convention concerning the impression on Taiwan’s export orders of Trump’s tariffs, Kuo stated it will not a lot have an effect on the chip sector.
“For our semiconductors and superior processes, there is a bonus of technological management and that can not be changed, and so the impression might be small,” he added.
Taiwan may even assist corporations relocate provide chains to the USA as wanted, away from the place there is perhaps excessive import tariffs, Kuo stated.
“Now we see that we should always be capable to develop the aerospace provide chain business in the USA, and do some becoming a member of up with the U.S. aerospace corporations, in order that a few of Taiwan’s aerospace analysis and growth centres might be moved to there.”
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Taiwan may even arrange an workplace in Japan within the first half of this yr to assist Taiwanese companies make investments there, and cooperate with the nation on AI and drones, he added.
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