Trump Urges Taiwan to Fund US Defense Guarantee Former President Donald Trump criticized the Taiwan Semiconductor Manufacturing Company (TSMC), claiming it "took away our chip business," which led to a 2.4% drop in its shares. Trump suggested that Taiwan should pay for the US's defense commitments, likening the situation to an insurance company. "We're no different than an insurance company," Trump stated. "Taiwan doesn't give us anything." In response, Taipei Premier Cho Jung-tai said on Wednesday that Taiwan is making efforts to develop relations with the US and wishes them well, but that is all they can do at the moment.