Amid growing tensions with China, the Biden administration is forging closer economic ties with Taiwan in areas including trade, supply chains and technology-export controls. Separately, U.S. Commerce Secretary Gina Raimondo is launching a separate dialogue with Taiwan to address technology trade and investments, citing the importance of Taiwan as a leading supplier of advanced semiconductors. Administration officials say the pact unveiled Wednesday shows the U.S. commitment toward bolstering ties with Taiwan. U.S. trade with Taiwan has expanded sharply in the wake of tariffs on Chinese imports imposed by the former Trump administration. According to the White House’s supply-chain report, 92% of the world’s supply of advanced semiconductors came from the island’s Taiwan Semiconductor Manufacturing Co. in 2021.

Source: Wall Street Journal June 01, 2022 16:42 UTC