Taiwan computer chip maker TSMC reported Thursday that its profit in the last quarter rose 57%, buoyed by the artificial intelligence boom. The world’s biggest semiconductor manufacturer reported a net profit of 374.

The tariffs would ensnare cutting-edge smartphone and PC-related chips for Apple, AMD and Nvidia if enacted. But Trump is betting his plan will bring more chip production to the US.

Semiconductor business between Taiwan and the United States is a "win-win" model for both sides given the high level of complementarity, the island's economy ministry said on Tuesday responding to tariff threats from U.