Taipei: Taiwanese Premier Cho Jung-tai said Wednesday that Taiwan remains a crucial part of the global semiconductor supply chain as the government prepares to discuss potential US tariffs threatened by President Donald Trump, according to the Taiwanese Central News Agency.

According to Anadolu Agency, government agencies are set to meet soon to discuss what help the local semiconductor industry will need to react to Trump's possible massive tariffs. Cho made these remarks on the first day of the Lunar New Year, emphasizing Taiwan's significant role in the global supply chain and seeking to reassure industry leaders.

Trump threatened tariffs Monday to bring semiconductor, chip, and pharmaceutical production back to the US, arguing that many companies have relocated to Taiwan. He stated, "They left us and went to Taiwan, which is about 90% of the chip business, and we want them to come back."

The semiconductor industry accounted for 65.2% of Taiwan's total sales in 2024. Officials are expected to meet after the Lunar New Year holiday to discuss the issue.