On November 25, newly inaugurated US President Donald Trump announced plans to sign an executive order imposing a 25% tariff on goods from Mexico and Canada and raising tariffs on Chinese products by 10%. The next day, November 26, speaking at the Wen-Yuan Pan Prize ceremony, former TSMC Chairman Mark Liu downplayed the potential impact on Taiwan, stating, "Taiwan primarily produces intermediate goods, so the effect will be minimal."
Addressing concerns about shifts in Taiwan's semiconductor industry under Trump's trade policies, Liu added, "There won't be significant changes." He emphasized the symbiotic relationship between Taiwan's manufacturing prowess and the US's design leadership, a partnership that underpins America's dominance in the semiconductor sector. "The two industries complement each other," he remarked.
Liu also shared insights on global engineering talent, acknowledging regional strengths while noting the challenges Taiwan faced in its early industrial days, such as labor shortages in the 1990s. He expressed confidence in Taiwan's ongoing development, stating, "With effort, our capabilities will expand further."
Post-retirement, Liu plans to return to his US alma mater (UC Berkley) to explore establishing a think tank focused on US industrial policy. He aims to foster rational and secure policymaking in an increasingly uncertain economic and political climate.
The ceremony saw Liu receiving the 2024 Wen-Yuan Pan Prize, the foundation's highest honor. Liu's career at TSMC, beginning in 1993, saw him spearhead the company's first eight-inch wafer fab and lead the integration of Worldwide Semiconductor Manufacturing Corporation following its acquisition in 2000. His leadership earned the trust of founder Morris Chang, paving the way for his succession as chairman in 2018.
Liu, who retired following TSMC's June 2024 shareholders' meeting, played a pivotal role in navigating the global chip shortage during the pandemic. Under his leadership, TSMC stabilized production and coordinated vaccine donations with the charity foundation Tzu Chi and Foxconn. The company has also expanded its advanced manufacturing footprint domestically while pursuing global strategies.
The Pan Wen-Yuan Prize, established in 2004, celebrates excellence in technology leadership, honoring figures like Morris Chang, Stan Shih, and Ming-Kai Tsai. Liu's recognition underscores his contributions to Taiwan's semiconductor dominance and its stature in cutting-edge technology.
