Taiwanese semiconductor companies attach “great importance” to complying with the law

Taiwanese semiconductor companies attach “great importance” to complying with the law, the island’s government said on Saturday, signalling they would comply with new U.S. export controls that aim to hobble China’s chip industry.

The rules announced Friday by President Joe Biden’s administration include a measure to cut China off from certain chips made anywhere in the world with U.S. equipment, vastly expanding its reach in its bid to slow Beijing’s technological and military advances, reports Reuters.

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Taiwan, a major chip producer, is home to Taiwan Semiconductor Manufacturing Co (TSMC), the world’s largest contract chipmaker and a major supplier to companies including Apple Inc (AAPL.O).

In a statement in response to the U.S. announcement, Taiwan’s Economy Ministry said Taiwanese firms were law-abiding.

“Taiwan’s semiconductor industry has long served global customers and attaches great importance to compliance with laws,” it said.

“In addition to complying with domestic laws and regulations, it will also cooperate with the needs of international customers who place orders and the norms of customers in their countries.”

Taiwan’s semiconductor industry is a technological leader and continues to “maintain an advantage in the competition for international orders”, the ministry said.

The government continues to maintain close contact with manufacturers and supports them in investing in factory expansion and supplying products to the world for technological development, the ministry said.

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