USA and Taiwan Discuss About Semiconductor Chips, Decide to Cooperate on Investment, Technology and Trade

semiconductor chip

U.S. Commerce Secretary Gina Raimondo discussed chip supply chains in a call with the Economy Minister of Taiwan and the two agreed to cooperate on investment, technology, and trade through a newly established framework, her office said.

Taiwan is a major semiconductor chip producer. The USA has repeatedly pressed Taiwan to do more for resolving a global scarcity of semiconductor chips which has closed shutters of some auto production lines and affected consumer goods.

Taiwan expressed that it is doing all the things it can to extend help.

US Commerce Department said, “Raimondo, in a call with Economy Minister of Taiwan Wang Mei-Hua, “underscored the United States” support for Taiwan and the importance of the U.S.-Taiwan commercial and investment relationship. She also expressed the United States’ continued interest in working together with Taiwan on issues of common commercial concern, particularly in the area of semiconductor supply chains and related eco-systems.”

US commerce department added, “The United States and Taiwan will cooperate through a new Technology Trade and Investment Collaboration, or TTIC, framework, to develop commercial programs and explore ways to strengthen critical supply chains. Raimondo and Wang also committed to identifying other steps to support semiconductors and other critical supply chains.”