Arizona Senator, Taiwan President Tout 'Win-Win' Business Deals
US Senator Ruben Gallego of Arizona met President Lai Ching-te in Taipei. The two touted the deepening relationship as a "win-win" for both places. Gallego said his state is proud to be the recipient of Taiwanese investment through TSMC, and that Arizona is also starting to invest in Taiwan. Lai said the TSMC investment has broadened the Taiwan-US relationship and was good for both countries.
REPORTER:
Deepening the partnership between the US state of Arizona and Taiwan. Senator Ruben Gallego shakes hands with President Lai Ching-te.
Gallego’s state is where chip giant TSMC has pledged tens of billions of US dollars of investment. And with the recent tariff deal reached between Taiwan and the US, Arizona could see even more TSMC funds headed its way.
President Lai, who has backed the deal, says that investment would be a win-win for Taiwan and the US state.
Lai Ching-te (TAIWAN PRESIDENT)
TSMC’s investments in Arizona are also a success story for Taiwan-US industrial cooperation.
We look forward to even more chip manufacturing and research and development facilities springing up in the greater Phoenix area.
This will continue to strengthen Taiwan-US relations.
REPORTER:
But the deal has faced doubts from opposition lawmakers in Taipei, after US Commerce Secretary Howard Lutnick said he wanted to see 40% of Taiwanese chipmaking operations moved to the US.
But Senator Gallego, who last visited Taiwan in 2018 as a member of the house of representatives, says he wants investment to be a two-way street.
Ruben Gallego (US SENATOR, AZ):
It is a win win for both of us. Uh, it's certainly a win win for Arizona. The amount of investment that is happening in Arizona right now from Taiwanese firms, especially TSMC, is impressive. We, Arizonans now travel the world and we brag about this relationship, this investment. We are the envy of other states, and we want to continue to see that growth.
But we'll also see that benefit coming back to Taiwan. As a matter of fact, we now know of a couple of Arizona companies that have had started some portion of their business here, especially regarding drones.
REPORTER:
Ahead of the meeting, Taiwan’s foreign ministry said it hopes to use “comprehensive democracy” with partners including congress members to “safeguard regional peace, stability and prosperity.”
And Gallego announced his visit on social media, writing that “strong partnerships abroad mean good jobs and real security at home.”
TSMC’s Arizona operations are expected to create over ten thousand jobs in the next few years as it expands its operations in the state.
With new direct flight routes between Phoenix and Taipei, and Taiwan’s plans to set up a government office in Arizona, deepening ties appear to be a major priority for both places.
