Taiwan has no plans to move half its chip production into the US, Vice Premier Cheng Li-chiun confirmed, quickly pushing back on seemingly false claims that the US had raised the condition during recent trade talks. US Commerce Secretary Howard Lutnick had suggested that Taiwan was currently mulling moving half its semiconductor supply chain to the US in exchange for "some kind of security guarantee," as Taiwan faces the ongoing threat of a potential Chinese invasion. Trump has maintained since taking office that reshoring of semiconductor supply chains is critical for economic and national security, and Lutnick indicated that Taiwan should agree to the unusual terms because it needs the US for protection. But speaking Wednesday, Cheng said that while "certain progress" has been made in trade talks, Taiwan has not only made "no such commitment" but that "this issue was not discussed in this round of negotiation, and we will not agree to such a condition," Bloomberg reported. For Taiwan, the trade talks remain focused on concessions linked to the Section 232 investigation that Donald Trump ordered to vet his plan to place extensive tariffs on semiconductors and any product that contains them. Taiwan currently makes about 95 percent of the chips used in popular tech products, and "more than 70 percent of Taiwan’s exports to the US are semiconductor-related and subject to the investigation," Bloomberg reported. The conclusion of the semiconductor investigation, which started in April, has been dragged out for months, as the Trump administration has repeatedly teased that chip tariffs could come any day. Tech firms brace for “triple whammy” of tariffs In the meantime, Ed Brzytwa, the vice president of international trade for the Consumer Technology Association (CTA), told Ars that US tech firms are scrambling to stockpile products to prepare for higher import costs and keep consumer prices low. They are also monitoring rumors leaking out of the administration to see what chip tariffs could be coming. It's unclear how chip tariffs would work or if tech firms can expect a "triple whammy" of tariffs if they import a product from a country hit with tariffs that contains multiple chips or critical minerals also subjected to tariffs, Brzytwa explained.