The United States and Taiwan will collaborate through a new Technology Trade and Investment Cooperation, or TTIC, framework to develop commercial programs and explore ways to strengthen critical supply chains.
US Commerce Secretary Gina Raimondo discussed the chip supply chain during a call with her opposite number in Taiwan and the two would collaborate on technology trade and investment through a newly established mechanism, her office said. The United States has repeatedly pressured Taiwan as a major chip producer to help solve a global shortage of semiconductors, which has closed some auto production lines and affected consumer goods. Taiwan says it is providing all possible help.
The US Commerce Department said Raimondo, in a call with Taiwan’s Economy Minister Wang Mei-hua on Monday, “underlined the importance of the United States’ support for Taiwan and the US-Taiwan commercial and investment relationship”. “She expressed the United States’ continued interest in working with Taiwan on issues of common commercial concern, particularly in the area of semiconductor supply chains and related eco-systems.”
The United States continues to strengthen supply-chain resilience and expand two-way trade and investment cooperation
The United States and Taiwan will collaborate through a new Technology Trade and Investment Cooperation, or TTIC, framework to develop commercial programs and explore ways to strengthen critical supply chains. Raimondo and Wang also committed to “identifying other steps to support semiconductors and other critical supply chains.”
Taiwan’s economy ministry cited Wang as saying that Taiwan and the United States were long-term and reliable supply-chain partners. The ministry said they discussed Taiwan’s important role in global supply chains and the importance of Taiwan and the United States in continuing to strengthen supply-chain resilience and expand two-way trade and investment cooperation.
Taiwan is also expected to work further with the United States on infrastructure in third countries and help Taiwanese firms participate in US President Joe Biden’s “Build Back Better” plan, it quoted Wang as saying. Is.
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