Taiwanese Vice Premier Cheng Li-chun said on Wednesday, October 1, that his government will not agree to U.S. Commerce Secretary Howard Lutnick’s proposal to move 50% of chip production bound for the U.S. to American shores.
Sec. Lutnick mentioned the proposal during a recent interview, according to Bloomberg, saying that the U.S. has raised this proposal to reduce its reliance on overseas supply chains. Taiwan was quick to reject the 50-50 suggestion, saying it would not accept the split and that it wasn’t even part of trade talks.
