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International Business Times

Business

Taiwan's Lai Vows More Investment In US As Chip Tariffs Loom

United States Taiwan Lai ChingTe Donald Trump Semiconductor TSMC Taipei

TSMC has plans to open three fabrication plants in the United States (Credit: AFP)

Taiwan will boost investment in the United States and on its own defences, President Lai Ching-te said Friday, as Taipei seeks to head off US President Donald Trump's threats of tariffs on its semiconductor chips.

The self-ruled island is a global power in the manufacturing of chips, which are used in everything from smartphones to missiles and are a key driver of its economy.

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