Trump Takes Aim at Biden-Backed Semiconductor Stock: "I'm Going to Make Them Pay"

In true Trump fashion, the former U.S. President and 2024 hopeful is back at it, stirring the pot ear bandage and all after Saturday’s millimeter escape from losing his life. During yesterday's interview with Bloomberg Businessweek, in true MAGA  fashion, Trump took aim at Taiwan and said they should start paying the U.S. for defense. 

"Taiwan doesn’t give us anything," Trump quipped, suggesting that Uncle Sam should be compensated for playing the world's most expensive bodyguard. In response, TSM shares dropped bigly, closing at a 2.4% loss.

Now, for those not fluent in tech talk, TSMC (Taiwan Semiconductor Manufacturing Co.) has quite the monopoly in the chip-making world. They produce the tiny brains that power everything from your iPhone in your hand to the SUV sitting in your driveway. And “The Donald”  is tired of Taiwan churning out 66% of the world’s high-tech chips, while the U.S. is barely scraping by with 6%.

Like a lot of chipmakers, TSMC’s stock has been soaring this year, up a whopping 83% so far. But what makes Trump furious is that a big part of this boost came from the Biden administration, which has been handing out money to foreign countries like Oprah giving away cars. They gave TSMC a staggering $6.6 billion in tax dollars to set up shop in the U.S.

Trump’s comments came at a sensitive time. The U.S. has been working hard to bring more chip manufacturing back home, offering sweet deals to companies like TSMC to build plants in the States. But Trump isn’t impressed. “They took almost 100% of our chip industry, and now we’re giving them billions to build new chips in our country,” he said. “Then they’re going to take that too.”

Taiwan Premier Cho Jung-tai responded to Trump’s comments by emphasizing the good relations between Taiwan and the U.S. despite the lack of formal ties. "Taiwan has steadily strengthened its defense budget and demonstrated its responsibility to the international community," he told reporters in Taipei. "We are willing to take on more responsibility; we are defending ourselves and ensuring our security."

(Source: Taiwan Today)

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