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Pelosi meets with TSMC in Taiwan

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Dwelling Speaker Nancy Pelosi (D-Calif.) experienced lunch with two prime executives from Taiwan’s major semiconductor producer in the course of her whistle-halt tour of the island, underscoring how important computer chips have develop into to U.S. countrywide security.

In a Facebook publish on Wednesday, Taiwanese President Tsai Ing-wen mentioned that Pelosi and she attended a lunch with Morris Chang, the founder of Taiwan Semiconductor Production Corporation, and its chairman, Mark Liu, as very well as Cheng Jianzhong, vice chairman of electronics company Pegatron.

“Everyone exchanged views on the deepening of cooperation involving Taiwan and the United States in various fields. . . . Taiwan and the United States not only share the values of democracy, independence and human rights, we also continue on to get the job done collectively on financial growth and democratic provide chain cooperation,” Tsai stated.

Taiwanese media, citing remarks from a Taiwanese legislator, reported that Pelosi also held a separate dialogue with TSMC’s Liu to go over chips. TSMC spokeswoman Nina Kao claimed Liu attended the lunch but didn’t fulfill privately with Pelosi. The speaker’s business did not respond to a request for comment.

The discussions came just times after Congress handed the Chips and Science Act, which gives $52 billion in subsidies to incentivize chip suppliers to construct factories in the United States.

TSMC is expected to get a chunk of people subsidies to aid fund manufacturing services it is developing in Arizona.

In a assertion, Pelosi said her delegation “conveyed how our CHIPS and Science Act will go a prolonged way to strengthening both our economies, as properly as expressed our aid for a 21st Century trade framework.”

TSMC is the world’s biggest chip producer and a critical provider to the United States and other Western nations. It is by considerably the premier of Taiwan’s chipmakers, which collectively develop more than 90 % of the world’s maximum-tech chips, according to the Semiconductor Industry Association. The United States employs TSMC-produced chips in F-35 fighter jets, Javelin missiles and other army equipment.

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