U.S. and Taiwan discussed a semiconductor chip supply plan

U.S. Secretary of Commerce Gina Raimondo discussed the chip supply chain with Taiwan counterparts. These two countries will cooperate in technology trade and investment through the newly established mechanism.

Taiwan is a major chip producer country. Hence, the United States has repeatedly urged Taiwan to take more measures to help solve the global semiconductor shortage. This issue has caused some car production lines to close and affect consumer products. Finally, Taiwan agreed to do everything it could to help.

Ms. Raimundo emphasized the importance of U.S. support for Taiwan and the importance of U.S.-Taiwan business and investment relations in a call with Taiwan’s Minister of Economy, Wang Meihua, on Monday.

She also stated that the United States continues to be interested in cooperating with Taiwan on issues of common commercial concern, especially in the semiconductor supply chain and related ecosystems.

She also mentioned that the United States and Taiwan would cooperate through a new technology trade and investment cooperation (TTIC) framework to develop business plans and explore ways to strengthen key supply chains.

Ms. Raimundo and Ms. Wang also pledged to determine other steps to support semiconductors and other critical supply chains.

Taiwan’s Ministry of Economic Affairs quoted Ms. Wang. It said that the U.S. and Taiwan are long-term and reliable supply chain partners.

Moreover, the Ministry of Commerce added that they discussed Taiwan’s pivotal role in the global supply chain and the importance of Taiwan and the United States in strengthening supply chain flexibility and expanding bilateral trade and investment cooperation.

Taiwan also hopes to cooperate with the United States on third-country infrastructure and help Taiwanese companies participate in the “Rebuild Better” plan of U.S. President Joe Biden.