Crypto News: Taiwan’s Trump fears

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Taiwan has been awash with skepticism about Washington's commitment to its security ever since President Donald Trump took office.

Not without reason: Trump last month declined to say whether the US would defend the island in the event of a Chinese invasion.

The treatment of Ukrainian President Volodymyr Zelenskiy at the White House has only reinforced those concerns. Taiwan's government says it's started rethinking how it deals with the US beyond simply "values."

WATCH: Trump announces that TSMC plans to invest $100 billion in the US.

For the people of Taiwan, nothing is more alarming than chip giant TSMC's US investment splurge, adding six facilities to its original plans for three plants in Arizona.

Following the March 3 announcement, Google Trends shows search queries for emigration among Taiwanese leapt to the highest in more than two years.

Many believe that TSMC, the largest manufacturer of advanced chips underpinning artificial intelligence, serves as a "silicon shield," making it too costly for Washington to allow Beijing to seize the island.

That shield could lose its effectiveness if TSMC shifts production to the US.

Such was the anxiety that Taiwanese President Lai Ching-te held a joint press conference with TSMC's chairman last week to address the concerns.

The de-facto US ambassador took to local media to emphasize the strong ties to Taipei, saying the US will speed arms deliveries to Taiwan and collaborate on dual-use sectors like drones and satellite systems.

Talks between the Trump administration and China on trade and other areas are stuck, meanwhile, with each talking past the other, sources say.

Amid the confusion, one thing is certain: Beijing has been ratcheting up its pressure on Taiwan by fighter-jet incursions and military drills since Lai took office in May.

Like all US allies, Taipei faces uncertainty. For Taiwan, the stakes are existential.

In the defense minister's words, Taiwan cannot rely on the goodwill of others to maintain peace. — Yian Lee

A visitor looks at a screen showing images of chips at TSMC's Museum of Innovation in Hsinchu. Photographer: I-Hwa Cheng/AFP/Getty Images

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