The U.S. has surpassed China as Taiwan's largest export market for the first time in over two decades, with Taiwanese exports to the U.S. increasing by 65.7% year-on-year in March to $9.1 billion. This shift reflects efforts by the U.S. to reduce dependence on Chinese goods and is part of broader changes in global trade dynamics. The change comes amid significant geopolitical events, including meetings between Chinese and U.S. leaders, a major earthquake in Taiwan affecting the semiconductor supply chain, and a surge in Taiwan's ETF market driven by AI stock interest, notably in Taiwan Semiconductor Manufacturing Co (TSM).