Trump Misunderstands Taiwan's Role In Chip Industry, Says Economy Minister: 'The President Has A Lot On His Plate'
Portfolio Pulse from Benzinga Neuro
Former President Donald Trump's comments on Taiwan's role in the semiconductor industry led to a drop in Taiwan Semiconductor Manufacturing Co Ltd. (TSMC) shares. Taiwan's Economy Minister clarified that Taiwan complements rather than competes with the U.S. in chip manufacturing.
September 02, 2024 | 10:23 am
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NEGATIVE IMPACT
Trump's comments on Taiwan's semiconductor role caused a drop in TSMC shares. Taiwan's Economy Minister clarified that Taiwan complements the U.S. in chip manufacturing, not competes.
Trump's comments suggested Taiwan was taking U.S. semiconductor business, leading to a negative market reaction for TSMC. The Economy Minister's clarification may stabilize the situation, but the initial impact was negative.
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IMPORTANCE 80
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