US official says Chinese seizure of TSMC in Taiwan would be 'absolutely devastating'
FILE PHOTO: U.S. Secretary of Commerce Gina M. Raimondo speaks at the “Senior Chinese Leader Event” held by the National Committee on US-China Relations and the US-China Business Council on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit in San Francisco, California, U.S., November 15, 2023. REUTERS/Carlos Barria/Pool/File Photo
WASHINGTON (Reuters) – U.S. Commerce Secretary Gina Raimondo said Wednesday a Chinese invasion of Taiwan and seizure of chips producer TSMC would be “absolutely devastating” to the American economy.
Asked at a U.S. House hearing about the impact, Raimondo said “it would be absolutely devastating,” declining to comment on how or if it will happen, adding: “Right now, the United States buys 92% of its leading edge chips from TSMC in Taiwan.” She noted that TSMC has announced it will build more advanced chips in Arizona.
(Reporting by David Shepardson)