Trump on CNBC Taiwan semiconductor chips

    by Giantkebab: Donald Trump

    President Trump said in a CNBC interview from the Oval Office that Taiwan took 'literally 100%' of the semiconductor business, but he is bringing it all back: 'They're all coming back to this country. We're going to have 40 to 50 to 60% of the chips, I think, by the time or very close to the time I leave.

    Transcript (en)

    Well, I did something with Intel that a lot of people don't know about and talk about, but it was, you know, they had problems with things and they got hurt badly because no president ever charged tariffs and Taiwan literally took 100% of the business almost, mostly Taiwan, but South Korea a little bit, but mostly Taiwan. And I said, boy, if I was president, that would have never happened. Taiwan would never be in the position they're in. And now, of course, you know, they're in a little bit of a tenuous position. And I am all moving back. They're all moving back into this country. We have we're going to have 40 to 50 to 60 percent of the chips. I think by the time we're pretty close to the time I leave office, they're building chip factories in Arizona in particular. The biggest company in the world is building. They're leaving Taiwan, meaning to build this. They're building their biggest plant. And I think we're going to have a big percentage of chips right now. You know, we had virtually nothing. We didn't make chips anymore. And Intel came in. They had a problem. I said, I can solve your problem, but I want 10 percent of the company. They said, what? I said, I want 10 percent of the company. And he agreed to. And the stock has gone through. So I think we made 60 or 70 billion dollars in eight months. Do I give credit for that? No. Somebody said, that's not very American. I said, no, I think it is very American, actually. And I've done that with other deals. I think they had a loan anyway from the CHIPS Act, and now it's better to have equity than a loan, you would think. Well, it worked out well from our standpoint. That's what I mean. We really had no investment. We had zero investment. We made about, I guess, $70 billion in a period of eight or nine months. But that's a great thing. What's happened is Intel has gone through the roof. It's one of the hottest companies, and they've done a great job.