TSMC(US:TSM) Mei Ri Jing Ji Xin Wen·2025-09-30 11:52Group 1: U.S. Semiconductor Policy Changes - U.S. Commerce Secretary proposed a "chip 50-50" plan to reduce reliance on Taiwan's semiconductor production by bringing half of the capacity back to the U.S. to mitigate security risks [1][9] - The U.S. government is considering a new tariff scheme that would impose duties on imported electronic devices based on the estimated value of the chips they contain, aiming to encourage domestic manufacturing [2][4] - The Trump administration is contemplating a requirement for semiconductor companies to maintain a 1:1 ratio of chips produced domestically to those imported, with potential tariff penalties for non-compliance [2][4] Group 2: Challenges Faced by TSMC and Samsung - TSMC's factory in Arizona has reportedly accumulated losses of approximately 1.7 trillion KRW (around 8.65 billion RMB) over the past four years, raising concerns about its future profitability [6] - Samsung is investing 24 trillion KRW (approximately 122.2 billion RMB) in a wafer foundry in Texas, but is facing challenges due to a lack of large-scale orders [8] - Both companies are under pressure to meet domestic production requirements, which could lead to significant financial penalties if they fail to achieve the mandated production-import ratio [6][8] Group 3: U.S. Government's Investment Strategies - The U.S. government is actively seeking to reduce dependence on Taiwanese high-end chip production, with plans to shift 30% to 50% of semiconductor production to other regions, potentially including Japan and the Middle East [9] - The U.S. has made significant investments in Intel, acquiring a 9.9% stake for approximately $8.9 billion, as part of efforts to stabilize domestic chip production [10][11] - Intel's stock has seen a substantial increase of over 40% since mid-August, reflecting positive investor sentiment following these cash injections [11]