Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

U.S. Commerce chief says Taiwan's TSMC asked for help getting COVID vaccines

Published 06/29/2021, 10:11 PM
Updated 06/29/2021, 10:15 PM
© Reuters. FILE PHOTO: U.S. Secretary of Commerce Gina Raimondo takes a question during a press briefing at the White House in Washington, U.S., April 7, 2021. REUTERS/Kevin Lamarque/File Photo

WASHINGTON (Reuters) - U.S. Commerce Secretary Gina Raimondo on Monday said she had spoken with the chief executive of Taiwan Semiconductor Manufacturing Co Ltd (TSMC) and that he had asked for help getting access to COVID-19 vaccines.

Raimondo told Reuters in an interview "he asked for help in that regard, he has spoken to high level officials in the White House. We have responded and we definitely want to be a good partner and I do think it's helping."

Taiwan said two weeks ago it will allow officials from Taiwan's Foxconn and TSMC to negotiate on its behalf for COVID-19 vaccines.

Mid-June the United States shipped 2.5 million COVID-19 vaccine doses to Taiwan, more than tripling Washington's previous allocation of shots for the island.

TSMC said in a statement to Reuters that they believed "getting vaccines for Taiwan would help to protect the communities and ensure normal operations."

Taiwan has been trying to speed up the arrival of the millions of vaccines it has on order as it deals with a rise in domestic cases, although infections remain comparatively low.

The request from TSMC, the world's biggest manufacturer of semiconductors on contract, coincides with a global chip shortage that has slowed production of manufacturers around the world, including in the U.S. auto industry where it is forecast the crisis will hit the production of 3.9 million vehicles. Raimondo has a key role in resolving the crisis for U.S. companies.

Although there has been no major impact so far on chip production in Taiwan since domestic cases began rising in the middle of May, some U.S. auto executives have told Reuters privately earlier this month they were concerned COVID-19 in Taiwan could impact the flow of semiconductors to U.S. factories.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Latest comments

This is clearly bad leadership there... the mayor is corrupted because China said they can help, but the mayor doesn't care...
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.