TSMC Shares Surge After Exemption from Tariffs
(MENAFN) Shares in Taiwan Semiconductor Manufacturing Corporation (TSMC), the globe’s top producer of semiconductors, climbed by 5% on Thursday following confirmation from Taiwan that the company has received an exemption from U.S. President Donald Trump’s newly proposed 100% tariff on semiconductor imports.
“TSMC is exempted from the chip tariffs because it has set up plants in the US,” stated Liu Chin-ching, head of the National Development Council, as cited by a news agency.
Regarding the implications for other chip manufacturers based in Taiwan, Liu noted that they “shall continue to stay ahead” if their global competitors are subjected to the same tariff rates.
Liu added that the U.S. has signaled its intention to proceed with discussions on tariffs with Taiwan.
Despite the challenges presented by the higher import duties, Taiwan’s administration still projects a 3.1% increase in its gross domestic product for the year 2025, Liu affirmed.
His remarks came shortly after Trump declared that the U.S. will impose "a very large tariff" on semiconductors and chips.
The proposed rate is expected to be “approximately 100%,” Trump told journalists, though he did not clarify when the tariffs would take effect.
"But if you're building in the United States of America, there's no charge, even though you're building and you're not producing yet, in terms of the big numbers of jobs, and all of the things that you're building. If you're building, there will be no charge," he explained.
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