Taiwan says ‘key position’ in semiconductors won’t be shaken as US passes chip act

TAIPEI: Taiwan’s “key position” in making semiconductors will not be shaken and production on the island is the most efficient way of doing things, the Economy Ministry said on Friday in response to the U.S. Congress passing a major new chips act.

The U.S. House of Representatives passed the sweeping legislation on Thursday to subsidise the domestic semiconductor industry as it competes with Chinese and other foreign manufacturers.

Taiwan is a major chip producer, home to Taiwan Semiconductor Manufacturing Co Ltd (TSMC), the world’s largest contract chipmaker, which is also investing $12 billion in a new plant in Arizona.