Taiwan President Lai Ching-te vows to increase its investment in US

Taipei [Taiwan], February 16 (ANI): Taiwan President William Lai has announced plans to increase the country's investment in the US and continue to collaborate with friends and allies to build global democratic supply chains, the Taipei Times reported.
Speaking at a news conference on Wednesday in Taipei following his first high-level national security meeting of the year, Lai said the government would act prudently, strengthen communications with the US and promote greater mutual understanding.
As reported by Taipei Times, this comes after US President Donald Trump again threatened to impose tariffs on Taiwanese semiconductors.
Lai also highlighted an initiative to promote semiconductor supply chain partnerships for global democracies, saying that Taiwan would collaborate with the US and other democratic partners to facilitate a more resilient and diversified semiconductor supply chain.
Such a supply chain would form the basis for a global alliance on chips for artificial intelligence (AI) and ensure industries in democratic nations have access to high-end chips, he said.
He further said that this would open up a new era of growth for the international semiconductor industry.
Taiwan will continue to highlight that bilateral cooperation is mutually beneficial and to communicate and negotiate closely with Washington to help the US administration better understand that Taiwan is an indispensable partner in rebuilding US manufacturing and consolidating its technological leadership, Lai said.
He further said that the Executive Yuan will explore all possible trade opportunities with the US and hopes to balance bilateral trade by stepping up investments in the US and purchasing US goods.
Lai pointed out that Taiwan has significantly increased its investment in the US, which was valued at USD 100 billion and had created nearly 400,000 jobs as of last year.
That far exceeded Taiwanese investment in China, which accounted for 11 per cent in 2023 and only 8 per cent last year, he added.
Lai further stressed that Taiwan will step up collaborative efforts with the US in the development of AI and semiconductors and work to maintain order in the chip market.
Lai's remarks followed Trump's statements in Washington earlier in the day, where he reaffirmed his stance on imposing tariffs on chip imports, reported Taipei Times.
Taiwan has consistently ranked among the top 10 countries contributing to the US trade deficit. During his presidential campaign, Trump urged Taiwan to significantly increase its defence budget and contribute more toward its security cooperation with the US. (ANI)