US Lawmaker Says Taiwan Chips Vital to US Economic Security
US Representative Eugene Vindman says the US economy depends heavily on Taiwan’s semiconductor industry and warns that losing access to Taiwanese chips could trigger a major economic crisis.
Chip Supply Warning
REPORTER:
A US lawmaker is warning that America's economy depends heavily on Taiwan's semiconductor industry.
Eugene Vindman (US HOUSE ARMED SERVICES COMMITTEE):
If we think voters are mad about costs now, imagine what would happen if China cut off access to these chips. If Americans no longer had access to Taiwanese chips, it would be the greatest economic crash since the Great Depression.
REPORTER:
Representative Eugene Vindman said the US and its allies must do more to deter China's gray-zone pressure on Taiwan. Speaking at an event hosted by the US think tank CSIS, he argued that protecting Taiwan is not only a security priority for the US, but also vital to global economic wellbeing.
