TAIPEI, Jan 29 (Reuters) - Premier Cho Jung-tai announced that Taiwan's government will assess the need to support its domestic industry in light of potential tariffs on semiconductors threatened by U.S. President Donald Trump.
Taiwan, home to the world's largest contract chipmaker TSMC, plays a crucial role in the global tech supply chain for companies like Apple and Nvidia.
Trump's recent statement about imposing tariffs on imported chips, pharmaceuticals, and steel to incentivize domestic production has raised concerns.
Cho highlighted the government's vigilance, stating, "In a day or two, we will promptly review the necessity of developing cooperative plans and future support programs for the industrial sector."
Emphasizing Taiwan's significant position in the global industrial chain, he assured, "Taiwan's strategic importance will be preserved, and we will look to enhance cooperation and maintain leadership in the industrial and technological realms."
TSMC, in response to Trump's tariff intentions, refrained from commenting.
Regarding the trade surplus with the U.S., Taiwan's Economy Minister Kuo Jyh-huei noted minimal expected impact on semiconductor exports due to their technological edge.
Additionally, Trump's directive to investigate trade deficits and alleged trade malpractices poses another challenge for Taiwan, as its trade surplus with the U.S. soared by 83% in the past year driven by high-tech exports like semiconductors.