Taiwan's Economy Minister Denies Trump's Claims of Taking Over US Chip Industry
Taiwan's economy minister has responded to criticism from Donald Trump by denying accusations of a takeover of the American chip industry and stressing that chips produced on the island are ordered by American companies.
Taiwan's economic minister has issued a statement denying former US President Donald Trump's accusations against the island. Trump accused Taiwan of taking over the US chip industry and complained that the country had taken "all the chip business" and become "very rich" because of it.
In response, Taiwan's economic minister stressed that the island's chip production is done on orders from US companies, which continue to earn the highest gross profits from chip sales. He also added that Trump may have some misunderstandings on these issues and that Taiwanese authorities are ready to clarify the situation.
Trump's criticism has sparked a sharp reaction among Taiwanese officials and has also affected the island's markets. His comments that Taiwan "should pay the US to protect it" have heightened tensions between the two countries, especially given the global demand for chips and Taiwan's importance in the industry.
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