TSMC climbs to record levels as Taiwan says chip giant exempt from Trump tariffs

Shares of Taiwan Semiconductor Manufacturing (NYSE:TSM) clinched a record high on Thursday after Taiwan said its top chip manufacturer will not have to pay a 100% tariff on such imports to the US.

Taipei-listed TSMC stock jumped nearly 5% to 1180 won at the time of writing.

“TSMC is exempted from the chip tariffs because it has set up plants in the US,” Liu Chin-ching, minister in charge of the National Development Council, said in Taipei on Thursday.

As for other Taiwanese companies that may be affected by the levies, they “shall continue to stay ahead” if competitors face the same charges, Liu Ching-chung noted.

U.S. President Donald Trump said Wednesday he plans to impose a 100% tariff on semiconductor imports with an exemption for companies that manufacture or commit to manufacturing in the U.S.

TSMC has announced significant investments in the U.S recently, including an initial $65 billion to build three plants in Arizona, and an additional $100 billion U.S. investment in March.

Elsewhere, shares of Samsung Electronics (OTCPK:SSNLF) advanced 2.5%. Apple (AAPL) said on Wednesday that Samsung Electronics will supply chips from its production plant in Texas for Apple products, including iPhones.