Taiwan has rejected US demands to shift semiconductor manufacturing so that half of America's chip needs are produced domestically, as tariff negotiations with the Trump administration intensify.

The US has been pressing Taiwan to reduce American dependence on chips manufactured on the island — which accounts for over 60 percent of global semiconductor production and roughly 90 percent of the world's most advanced chips — as part of ongoing trade talks.

"Our goal is to get to 40 percent market share, and maybe 50 percent market share of producing the chips and the wafers, you know, the semiconductors we need for American consumption. That's our objective and I think it will shock everybody how successful we are," US Commerce Secretary Howard Lutnick said in an interview earlier this week

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