The interests of Taiwan and its companies are the government's top priority, a Cabinet source said today in response to reports that Washington may seek a stake in Taiwan Semiconductor Manufacturing Co (TSMC) in exchange for CHIPS and Science Act funding.
Reuters reported on Wednesday that US Secretary of Commerce Howard Lutnick said the US government is considering taking equity stakes in chipmakers that receive CHIPS Act subsidies.
Lutnick told CNBC that the administration is in talks with Intel Corp about a 10-percent stake, and may pursue similar arrangements with other companies.
Photo: Hung Yu-fang, Taipei Times
According to two anonymous sources, the firms under consideration could include Micron Technology Inc, Samsung Electronics Co and TSMC, the world's largest advanced chipmaker.
The Cabinet source, who requested anonymity, said the US is Taiwan's most important strategic partner but that the competitiveness of Taiwan's semiconductor and electronics sectors is predicated on government policies and cooperation with the global high-tech industry.
"It did not come out of nowhere, and it will not be gone all of a sudden," the source said.
Minister of Economic Affairs J.W. Kuo (郭智輝) said on Wednesday that TSMC is a private company and that Taiwan's negotiating team has not raised the issue with him.
If the US does seek to invest in TSMC, Kuo said the Department of Investment Review would review the matter, noting that an expert assessment of its potential impact would be necessary.
Meanwhile, Pegatron Corp chairman Tung Tzu-hsien (童子賢) cited former US president Ronald Reagan's words: "In this present crisis, government is not the solution to our problem; government is the problem."
Calling on the Trump administration to "take your hands off," Tung argued that "TSMC, Intel and Samsung will become more competitive if they can be put to the market's test [without interference]."
The Wall Street Journal reported today that a US official downplayed the possible inclusion of TSMC and Micron as companies in which the US government would want a stake, citing their rising investment in the US.
Instead, the request for equity stakes would target companies that are not contributing more to the US, the official said.
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