The US and Taiwan have signed an agreement that will see a multi-billion dollar investment into domestic development of semiconductors and related infrastructure. The US Department of Commerce announced that Taiwanese businesses will make an upfront investment of at least $250 billion into their US production capacity, while Taiwan's government will provide credit guarantees of at least another $250 billion in support of the semiconductor industry and supply chain in the US. 

In exchange, Taiwan will receive a better deal on tariffs. Reciprocal tariffs will be limited to 15 percent, compared with the previous 20 percent rate. Generic pharmaceuticals and their generic ingredients, aircraft components, and unavailable natural resources will be not be subjected to reciprocal tariffs under the arrangement. Taiwanese companies with US production will also see increased import amounts without being charged duties under the Section 232 framework.  

According to reports from CNBC, Taiwan Semiconductor Manufacturing Company (TSNC) is already in position to take advantage of the new trade agreement with further expansion in Arizona. The major Taiwanese chip manufacturer had previously committed to investing $100 billion in its US operations over four years. Commerce Secretary Howard Lutnick told CNBC in an interview that the current US government wants to bring 40 percent of Taiwan's semiconductor supply chain stateside, continuing to use tariffs as an incentive. "If they don’t build in America, the tariff’s likely to be 100 percent,” Lutnick said.

Apple announced today JPMorgan Chase will be the new issuer for the Apple Card. The official news arrived shortly after The Wall Street Journal reported that the two businesses had reached a deal regarding Apple's credit card service. According to the tech company, the transition to the new provider should take about two years to complete, but customers can continue to use their Apple Cards as usual during the interim. Apple has already published an FAQ about the change, but the main takeaway is that the status quo is currently continuing and customers will receive information at a later date if any action is required. Mastercard will remain the Apple Card payment network under the new partnership.

Goldman Sachs was Apple's collaborator when it launched the Apple Card in 2019. We've seen signs for a few years, though, that Goldman Sachs had been looking for a way out of its arrangement. Apple didn't disclose many details around either the current or future deals for its credit card, however the WSJ report claims the negotiations with JPMorgan Chase have been underway for more than a year. Sources told the publication that Goldman Sachs is offloading about $20 billion in outstanding customer balances at a discount of more than $1 billion.

Apple announced today JPMorgan Chase will be the new issuer for the Apple Card. The official news arrived shortly after The Wall Street Journal reported that the two businesses had reached a deal regarding Apple's credit card service. According to the tech company, the transition to the new provider should take about two years to complete, but customers can continue to use their Apple Cards as usual during the interim. Apple has already published an FAQ about the change, but the main takeaway is that the status quo is currently continuing and customers will receive information at a later date if any action is required. Mastercard will remain the Apple Card payment network under the new partnership.

Goldman Sachs was Apple's collaborator when it launched the Apple Card in 2019. We've seen signs for a few years, though, that Goldman Sachs had been looking for a way out of its arrangement. Apple didn't disclose many details around either the current or future deals for its credit card, however the WSJ report claims the negotiations with JPMorgan Chase have been underway for more than a year. Sources told the publication that Goldman Sachs is offloading about $20 billion in outstanding customer balances at a discount of more than $1 billion.

Apple announced today JPMorgan Chase will be the new issuer for the Apple Card. The official news arrived shortly after The Wall Street Journal reported that the two businesses had reached a deal regarding Apple's credit card service. According to the tech company, the transition to the new provider should take about two years to complete, but customers can continue to use their Apple Cards as usual during the interim. Apple has already published an FAQ about the change, but the main takeaway is that the status quo is currently continuing and customers will receive information at a later date if any action is required. Mastercard will remain the Apple Card payment network under the new partnership.

Goldman Sachs was Apple's collaborator when it launched the Apple Card in 2019. We've seen signs for a few years, though, that Goldman Sachs had been looking for a way out of its arrangement. Apple didn't disclose many details around either the current or future deals for its credit card, however the WSJ report claims the negotiations with JPMorgan Chase have been underway for more than a year. Sources told the publication that Goldman Sachs is offloading about $20 billion in outstanding customer balances at a discount of more than $1 billion.