Trump says Taiwan should pay for defence, sending TSMC stock down

Reuters

Trump says Taiwan should pay for defence, sending TSMC stock down

जुलाई 17, 2024 at 1:41 पूर्वाह्न UTC

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Adds Taiwan premier comments, paragraphs 5-7, analyst comment, paragraph 15

TAIPEI, July 17 (Reuters) -Taiwan should pay the United States for its defence as it does not give the country anything, U.S. Republican presidential candidate Donald Trump said, sending shares of Taiwanese chip manufacturer TSMC 2330.TW down on Wednesday.

"I know the people very well, respect them greatly. They did take about 100% of our chip business. I think, Taiwan should pay us for defence," Trump said in interview with Bloomberg Businessweek on June 25 but published on Tuesday.

"You know, we're no different than an insurance company. Taiwan doesn't give us anything."

TSMC is the dominant maker of advanced chips used in everything from AI applications to smartphones and fighter jets, and analyst believe any conflict over Taiwan would decimate the world economy.

Taiwan Premier Cho Jung-tai, responding to Trump's comments, said Taiwan and the US have good relations despite the lack of formal ties, and is dedicated to bolstering its defences.

"Taiwan has steadily strengthened its defence budget and demonstrated its responsibility to the international community," he said at a routine news conference in Taipei.

"We are willing to take on more responsibility; we are defending ourselves and ensuring our security."

The U.S. is Taiwan's most important international supporter and arms supplier, but there is no formal defence agreement. The U.S. is however bound by law to provide Taiwan with the means to defend itself.

Taiwan's government has made defence modernisation a priority, including developing its own submarines, and has said many times the island's security rests in its own hands.

Taiwan, which China views as its own territory, has complained of repeated Chinese military activity over the past four years as Beijing seeks to pressure the democratically governed island which rejects China's sovereignty claims.

U.S. President Joe Biden has upset the Chinese government with comments that appeared to suggest the U.S. would defend Taiwan if it were attacked, a deviation from a long-held U.S. position of "strategic ambiguity".

Washington and Taipei have had no official diplomatic or military relationship since 1979, when the U.S. switched recognition to Beijing and terminated a mutual defence treaty.

There was no immediate reaction from TSMC which is currently in its quiet period ahead of its second quarter earnings report on Thursday.

TSMC SHARES DOWN

Shares in Taiwan Semiconductor Manufacturing Co Ltd (TSMC) TSM.N, the world's largest contract chipmaker and a major Apple AAPL.O and Nvidia NVDA.O supplier, fell more than 2% early on Wednesday morning trade. The broader market .TWII was down around 0.4%.

"Trump's comments were plainly blunt. We see it as political rhetoric," said Allen Huang, a vice president at Mega International Investment Service. "TSMC is an excellent company, and it has won out in the market over many rival companies in the United States."

TSMC is spending billions building new factories overseas, including $65 billion on three plants in the U.S. state of Arizona, though it says most manufacturing will remain in Taiwan.

Taiwan also has a backlog worth some $19 billion of arms deliveries from the United States, which U.S. officials and politicians have repeatedly pledged to speed up.

Since 2022, Taiwan has complained of delays in deliveries of U.S. weapons such as Stinger anti-aircraft missiles, as manufacturers focused on supplying Ukraine to help it battle invading Russian forces.

In April, the U.S. Congress had passed a sweeping foreign aid package which includes arms support for the island, after House Republican leaders abruptly switched course and allowed a vote on the $95 billion in mostly military aid for Ukraine, Israel and Taiwan and U.S. partners in the Indo-Pacific.

China held two days of war games around the island shortly after President Lai Ching-te took office in May, saying it was "punishment" for his inauguration speech, which Beijing denounced as being full of separatist content.

But China has also been using grey zone warfare against Taiwan, wielding irregular tactics to exhaust a foe by keeping them continually on alert without resorting to open combat. This includes sending balloons over the island and almost daily air force missions into the skies near Taiwan.

China has never renounced the use of force to bring Taiwan under its control. Lai, who says only the Taiwanese people can decide their future, has repeatedly offered talks but been rebuffed.

Reporting By Ben Blanchard, Jeanny Kao and Faith Hung; Editing by Neil Fullick, Lincoln Feast and Michael Perry

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अस्वीकरण: XM Group के सत्व केवल निष्पादन वाली सेवा और हमारी ऑनलाइन व्यापार सुविधा में पहुँच प्रदान करते हैं, ताकि व्यक्ति वेबसाइट पर या उसके जरिए उपलब्ध सामग्री को देख सके और/या उसका उपयोग कर सके। इसका प्रयोजन इसे बदलना या विस्तार देना नहीं है, न ही वह इसे बदलता या विस्तार देता है। इस तरह की पहुँच हमेशा ही निम्नलिखित के अधीन रहेगी: (1) नियम और शर्तें; (2) जोखिम चेतावनियाँ; और (3) पूर्ण अस्वीकरण। इसलिए ऐसी जानकारी सामान्य सूचना से अधिक कुछ भी नहीं है। विशेष रूप से, कृपया इससे अवगत रहें कि हमारी ऑनलाइन व्यापार सुविधा की सामग्रियाँ न तो किसी चीज का अनुरोध करती हैं, न ही वित्तीय बाजारों में प्रवेश करने की पेशकश ही करती हैं। किसी भी वित्तीय बाजार में व्यापार करने के साथ आपकी पूँजी को उल्लेखनीय जोखिम है।

हमारी ऑनलाइन व्यापार सुविधा में प्रकाशित सभी सामग्रियाँ शैक्षणिक/सूचनात्मक प्रयोजनों मात्र के लिए हैं, और इनमें वित्तीय, निवेश टैक्स या व्यापार सलाह और सुझाव नहीं हैं - न ही ऐसा समझना चाहिए कि इनमें ये सब हैं; न ही इनमें हमारी व्यापार कीमतों का अभिलेख है; न ही इनमें किसी वित्तीय उपकरण में लेन-देन करने का निमंत्रण या अनुरोध है; न ही ये आपको अवांछित वित्तयी प्रोमोशन पेश करती हैं।

इस वेबसाइट में मौजूद कोई भी तृतीय पक्षीय सामग्री, तथा XM द्वारा तैयार की गई सामग्रियाँ, जैसे: अभिप्राय, समाचार, अनुसंधान, विश्लेषण, कीमतें और अन्य सूचनाएँ या तृतीय पक्षों की साइटों के लिंक, "जैसा-है-वैसा" के आधार पर बाजार के बारे में सामान्य टिप्पणी के रूप में उपलब्ध कराई गई हैं, और वे निवेश हेतु सलाह नहीं हैं। जिस हद तक कीसी सामग्री को निवेश अनुसंधान मान लिया जाता है, उस हद तक आपको ध्यान में रखना होगा और इसे स्वीकार करना होगा कि वह सामग्री इस उद्देश्य से और निवेश अनुसंधान की स्वतंत्रता को बढ़ावा देने के लिए कानूनी आवश्यकताओं के मुताबिक, तैयार नहीं की गई है, और इसलिए उसे प्रासंगिक कानूनों और विनियमों के तहत विपणन संप्रेषण माना जाएगा। कृपया सुनिश्चित करें कि आपने गैर-आश्रित निवेश के बारे में हमारी सूचना को पढ़ और समझ लिया है। पीछे दी गई जानकारी के बारे में अनुसंधान और जोखिम चेतावनी यहाँ उपलब्ध है।

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