Taiwan Seeks Cooperation From Allies As US-China Tensions Intensify - Taiwan Semiconductor (NYSE:TSM)

Taiwan wishes to ensure its partners have reliable supplies of semiconductors, or "democracy chips," President Tsai Ing-wen told the governor of the U.S. state of Indiana, Reuters reports.
China's threats mean fellow democracies have to cooperate, Ing-wen said.
"Taiwan is willing and able to strengthen cooperation with democratic partners in building sustainable supply chains for democracy chips," she added.
Taiwan is the home to the world's largest contract chip maker, Taiwan Semiconductor Manufacturing Company Ltd TSM.
TSMC is building a $12 billion plant in the U.S. state of Arizona. It is a frontrunner to U.S.'s $52 billion Chips Act that has laid restrictions on investment and expansion in China, irking the country.
Republican governor Eric Holcomb looks to visit Taiwan in August to meet representatives of Taiwan's semiconductor companies, marking the U.S. diplomat's third trip to the country after Nancy Pelosi.
A week after Pelosi's visit, five U.S. lawmakers, led by Senator Ed Markey, visited Taiwan.
U.S.'s move irked China, which views Taiwan as its territory.
China conducted extensive military exercises near Taiwan after Pelosi's visit. However, Taiwan rejects Beijing's sovereignty claims.
"Taiwan has been confronted by military threats from China, in and around the Taiwan Strait," Tsai told Holcomb.
The 'Chip 4' meeting led by the U.S., South Korea, and Japan has kept out Taiwan so far.
Price Action: TSM shares traded lower by 1.87% at $85.58 on the last check Monday.