It was a surprise ceremony at the White House presided over by President Donald Trump to unveil a $100 billion investment from what he called the world’s most powerful company, Taiwan Semiconductor Manufacturing Company (TSMC).
But nearly 8,000 miles away, the mood was far from celebratory. Instead, the shock announcement last week has reignited fears in Taiwan about losing its crown jewel, its world-beating semiconductor industry, to the US due to political pressure.
The island democracy’s former President Ma Ying-jeou wasted no time in accusing the ruling Democratic Progressive Party (DPP) of “selling TSMC” to Trump as a “protection fee.”
“This is a major national security crisis,” Ma, a member of the opposition Kuomintang (KMT), wrote on his Facebook page on March 4, shortly after the White House signing ceremony. It will “’have a significant negative impact on people’s confidence, cross-strait relations and Taiwan’s future geopolitical position.”
