Taiwan rejects request to move 50% of its chip production to the U.S.

News Snapshot:

U.S. Commerce Secretary Howard Lutnick proposed a huge shift in chip production that Taiwan rejected. The Trump administration is rightfully concerned about the United States' reliance on Taiwan to produce the chips it needs. Fears of a disruption in supplies led officials in Washington to propose that Taiwan move half of its chip production to the U.S. Taiwan is home to the world's largest contract foundry TSMC, which manufactures chips for U.S. companies like Apple, NVIDIA, and Qualcomm. Commerce Secretary Lutnick discussed a "50-50" chip production split with Taiwan On Wednesday, Taiwan's vice premier Cheng Li-chiun said that such a...