Taiwan’s Economy Minister, Kuo Jyh-huei, firmly dismissed recent accusations by U.S. Republican presidential nominee Donald Trump, who claimed that Taiwan had "stolen" the U.S. chip industry.
Speaking to reporters in Taipei, Kuo emphasized that Taiwan’s semiconductor production is commissioned by American companies, which still reap the highest profits from the industry.
"Of course Taiwan is not stealing the chip industry from the U.S.," Minister Kuo stated. "The chips we make are commissioned by U.S. companies, which still have the highest gross margin.
Trump might have some misunderstanding on such matters, and we will clarify that."
Trump’s remarks, made in an interview with Bloomberg Businessweek published on July 16, have unsettled Taiwan’s officials and financial markets.
The former president criticized the island’s chip sector and suggested that Taiwan should compensate the U.S. for its protection, raising concerns that Trump’s potential presidency might approach Taiwan with a more transactional mindset.
“Taiwan took our chip business from us,” Trump declared. “I mean, how stupid are we? They took all of our chip business. They’re immensely wealthy.”
In response to these comments, Taiwanese officials have been highlighting the island’s commitment to its partnership with the U.S. Premier Cho Jung-tai, addressing Trump’s demand for Taiwan to “pay” for U.S. protection, pointed out that Taiwan has already increased its defense spending and extended the conscription period.
“It’s our shared responsibility and goal to maintain peace and stability in the Taiwan Strait and the Indo-Pacific region,” Premier Cho stated on July 17.
As tensions rise over Trump’s statements, Taiwan remains focused on clarifying its role in the global chip industry and strengthening its relationship with the U.S.