“We will as soon as possible come up with help for Taiwan companies to move their production bases,” Taiwan’s economy minister Kuo Jyh-huei said on Thursday (7 November).  

The government is making contingency plans for Taiwanese firms that have manufacturing bases in China, due to historically lower costs, as Trump’s win cements a future of higher tariffs and protectionist measures.  

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TSMC, Taiwan’s chip giant, has been granted over $10b in subsidies through the CHIPS Act passed by Biden’s administration. The firm is also investing $65b in Arizona for the building of new plants. Lawmakers in Taiwan have expressed concerns that these investments are under threat. 

During the later months of his campaign, Trump criticized the bill and its costs. Republican House Speaker Mike Johnson said the party “probably will” try to repeal the law, which he later backtracked on.  

Many experts have pointed out that, despite his rhetoric, he is not likely to repeal it as it aligns with both parties’ goal of growing local manufacturing in the semiconductor space.  

Another Taiwanese chip company with large investments in the US, GlobalWafers, said to Reuters that it expects the CHIPS Act to continue under Trump’s administration.  

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“Multi-year and decadal programs like the CHIPS Act and the agreements we have signed are regularly continued from one administration to the next” and they expect it to “run smoothly in the Trump administration,” the firm said in a statement.  

Kuo said that part of the government’s plan could be helping firms move their supply chain to the US to avoid high tariffs.