Taiwan President Lai Ching-te pledged to engage with the U.S. over Donald Trump's concerns about the chip industry and to increase investments and purchases from the country while boosting defense spending. Trump criticized Taiwan on Thursday, blaming it for taking away the semiconductor industry he wants to bring back to the U.S. Lai emphasized the importance of global cooperation in the chip supply chain and called for a democratic alliance for AI chip production. Taiwan's TSMC is a key supplier for Apple and Nvidia and is investing $65 billion in U.S. factories. TSMC's Taipei-listed shares fell 2% on Friday.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Taiwan President Lai Ching Tha pledged to engage with the US over Donald Trump's concerns about
00:06the chip industry to increase investments and purchases from the country while boosting
00:09defense spending. Trump criticized Taiwan on Thursday, blaming it for taking away the
00:13semiconductor industry that he wants to bring back to the US. Lai emphasized the importance
00:17of global cooperation of the chip supply chain and called for a democratic alliance for AI
00:22chip production. Taiwan's TSMC is a key supplier for Apple and NVIDIA,
00:26investing $65 billion in US factories. Their shares fell 2% on Friday.
00:30For all things money, visit Benzinga.com slash GSTV.