Taiwan Trade Chief representative, John Chen-Chung Deng, assured during a visit to Washington this week that Taiwan’s semiconductor manufacturers will expand production in the US. Despite tensions with China, Deng insisted that Taiwan remains an ideal location for semiconductor production and other US trade, business, and investment.
Deng’s visit coincides with increasing efforts to strengthen the US and Taiwanese militaries and economies against any threat from China. President Joe Biden and Congress are working to boost semiconductor production on US soil in case conflicts disrupt exports from Asia, particularly Taiwan, which produces over 90% of the world’s advanced semiconductors.
Deng emphasized the importance of avoiding unnecessary fear and exaggeration, stating that the US business community in Taiwan is still expanding and hiring. He highlighted Taiwan’s experienced workforce and support industries, which benefit semiconductor producers and US businesses like Google and Amazon.
Taiwanese officials are also working to resolve tax issues and hope to finalize an initial trade agreement with the US soon. This would boost Taiwan’s confidence and encourage other allies to increase trade, reducing Taiwan’s economic dependence on China, which currently accounts for 35-40% of its products.
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