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China seizing TSMC would be ‘devastating’ for U.S. economy, Commerce Secretary says



Gina Raimondo, the U.S. Commerce Secretary, expressed grave concerns about the potential dire consequences to the U.S. economy if China were to invade Taiwan and seize control of TSMC. She emphasized that such an event could be “absolutely devastating” to the American supply of critical technology components, reports Reuters

During a U.S. House hearing, Raimondo said that the United States is highly dependent on TSMC, acquiring 92% of its leading-edge semiconductor chips from the company that is based in Taiwan and currently produces the vast majority of its chips there. She refrained from speculating on the likelihood of such an invasion but underscored the catastrophic impact it would have on U.S. technological supplies. 

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