Official U.S. government announcements or defense contracts

Trump, 'Mob Godfather,' Demands Taiwan Pay for Defense, Chip Stocks Tumble

Jul 17, 2024, 01:00 PM

Former U.S. President Donald Trump has demanded that Taiwan pay for its defense, a statement that has significant implications for U.S.-Taiwan relations and the ongoing Taiwan Strait dispute. Trump, referred to as a 'mob godfather' by some, accused Taiwan of taking American semiconductor technology and business, and suggested that Taiwan should bear the financial burden of its own defense against China. This stance has caused unease among U.S. allies and has led to a decline in chip stocks on Wall Street, with stocks tumbling. Trump's comments have highlighted the complexities of U.S. foreign policy in the region, especially considering Taiwan's willingness to increase its defense spending, which has often been hampered by U.S. reluctance to sell weapons. The remarks have also emboldened China, further complicating the geopolitical landscape.