shockedcanadian
Diamond Member
- Aug 6, 2012
- 43,912
- 42,957
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This is a reminder that Canada, lead by Ontario; is in trouble. Trump leveraged tariffs to ensure $250B which never would have occurred without it. It will ensure America supports Taiwan in their darkest hour Im sure.
Save some of us who have fought the good fight. The nepotism of the enforced caste system which has stolen so many lives and so much potential cannot continue to sustain itself, we have lost the hard working brilliance required and foreign nations and corporations know our shtick and thus refuse to invest.
www.cnbc.com
The U.S. and Taiwan have reached a trade agreement to build chips and chip factories on American soil, the Department of Commerce announced Thursday.
As part of the agreement, Taiwanese chip and technology companies will invest at least $250 billion in production capacity in the U.S., and the Taiwanese government will guarantee $250 billion in credit for these companies.
In exchange, the U.S. will limit “reciprocal” tariffs on Taiwan to 15%, down from 20%, and commit to zero reciprocal tariffs on generic pharmaceuticals, their ingredients, aircraft components and some natural resources.
Taiwan Semiconductor Manufacturing Co. has bought land and could expand in Arizona as part of this deal, Commerce Secretary Howard Lutnick told CNBC’s Brian Sullivan in an interview Thursday.
“They just bought hundreds of acres adjacent to their property,” Lutnick said. “I’ll let them go through with their board and give them time.”
The announcement added that future tariffs under the Section 232 framework will have some exceptions for companies that are building chips in the U.S. Taiwanese companies constructing new U.S. chip fabs — such as TSMC
— will be able to import up to 2.5 times the amount of capacity they are building while the factories are under construction, without paying tariffs under the framework.
Taiwanese auto parts, lumber and related products will also avoid tariffs over 15% under Section 232, the announcement said.
Save some of us who have fought the good fight. The nepotism of the enforced caste system which has stolen so many lives and so much potential cannot continue to sustain itself, we have lost the hard working brilliance required and foreign nations and corporations know our shtick and thus refuse to invest.
Taiwan will invest $250 billion in U.S. chipmaking under new trade deal
The U.S. and Taiwan have reached a trade agreement to build chips and chip factories on American soil, the Department of Commerce announced Thursday.
www.cnbc.com
The U.S. and Taiwan have reached a trade agreement to build chips and chip factories on American soil, the Department of Commerce announced Thursday.
As part of the agreement, Taiwanese chip and technology companies will invest at least $250 billion in production capacity in the U.S., and the Taiwanese government will guarantee $250 billion in credit for these companies.
In exchange, the U.S. will limit “reciprocal” tariffs on Taiwan to 15%, down from 20%, and commit to zero reciprocal tariffs on generic pharmaceuticals, their ingredients, aircraft components and some natural resources.
Taiwan Semiconductor Manufacturing Co. has bought land and could expand in Arizona as part of this deal, Commerce Secretary Howard Lutnick told CNBC’s Brian Sullivan in an interview Thursday.
“They just bought hundreds of acres adjacent to their property,” Lutnick said. “I’ll let them go through with their board and give them time.”
The announcement added that future tariffs under the Section 232 framework will have some exceptions for companies that are building chips in the U.S. Taiwanese companies constructing new U.S. chip fabs — such as TSMC
— will be able to import up to 2.5 times the amount of capacity they are building while the factories are under construction, without paying tariffs under the framework.
Taiwanese auto parts, lumber and related products will also avoid tariffs over 15% under Section 232, the announcement said.
