Taiwan Leader Says TSMC’s Overseas Expansion Reflects Prowess

Taiwanese President Tsai Ing-wen said moves by the island’s most valuable chipmaker to build factories overseas is a sign of its power abroad and not a threat to the local industry.

Taiwan Semiconductor Manufacturing Co.’s foreign investments are demonstrating Taiwan’s prowess in the sector, Tsai told reporters on Tuesday. TSMC, the primary chipmaker for Apple Inc., is building plants Japan and the US.