Taiwan's President Vows Talks With U.S. Over Trump’s Chip Industry Concerns

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.