Trump accuses Taiwan of stealing U.S. chip business, here's what the election could bring
Trump said tariffs should be put on Taiwan's chips during an appearance on the Joe Rogan Experience podcast.
Former president Donald Trump reiterated his frustration with Taiwan over the weekend when he appeared on the Joe Rogan Experience podcast and accused the country of stealing America's chip industry.
Trump criticized the U.S. CHIPS Act and said he would implement tariffs on chips from Taiwan if elected president. Such tariffs would impact the global leader in chip building, Taiwan Semiconductor Manufacturing Company, whose customers include companies like Nvidia and Apple.
Shares of Taiwan Semiconductor closed down 4.3% on Monday.
"You know, Taiwan, they stole our chip business... and they want protection," Trump said during the appearance. The podcast was published on Saturday evening.
Every hyperscaler, like Amazon, Google and Microsoft, working on their own in-house chip is fabbing with the Taiwanese company. UBS analysts estimate over 90 percent of the world's advanced chips are manufactured by TSMC. Intel and Samsung are among the companies trying to compete but have faced a series of setbacks.