RIYADH: US House Speaker Nancy Pelosi on Wednesday met Taiwan Semiconductor Manufacturing Co. Chairman Mark Liu.
During the meeting, they discussed the US Congress’ recently passed Chips and Science Act and its $52 billion subsidies for new chip manufacturing plants in the US, Washington Post reported citing people familiar with the matter.
The encounter also signals how crucial computer chips are to the US economy and its national security.
TSMC is by far one of the largest chipmakers in Taiwan, which produces over 90 percent of the world’s high-tech chips, Bloomberg reported citing the Semiconductor Industry Association.
US officials said that China gaining access to the technology and expertise housed in Taiwan constitutes a security risk.