Bloomberg Daybreak: Asia Edition
TSMC's US Grants, Yellen Wraps China Trip
Apr 9, 2024
Wendy Cutler discusses Yellen's China visit, Joshua Crabb shares market outlook, and Vlad Savov talks about TSMC's $11.6 billion US grants. Topics include US-China economic relations, TikTok restrictions, US inflation data, TSMC's US expansion, and semiconductor industry dynamics.
23:53
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Quick takeaways
- Increased engagement between US and China at senior levels shows improved relations but concerns remain about China's manufacturing overcapacity affecting global countries.
- US government's investments in semiconductor companies like TSMC aim to boost domestic production, reduce reliance on foreign manufacturers, and enhance technological capabilities.
Deep dives
US-China Trade Relations and Concerns
There is increased engagement between the US and China at senior and staff levels, indicating a somewhat improved mood. Despite the engagement, there are concerns regarding China's manufacturing overcapacity, impacting various countries globally. The EU is considering additional tariffs on Chinese EVs, potentially leading to trade tensions.
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