American CNBC news outlet reports: In May, President Joe Biden issued a stark warning to China: The U.S. would come to Taiwan’s defense militarily if China were to invade. Although the White House quickly affirmed the president’s comments did not reflect a policy shift, his remarks came at a time of heightened concern over China’s interest in Taiwan following Russia’s invasion of Ukraine. Any potential action could have repercussions on the global supply china. Taiwan has positioned itself as the go-to supplier of the semiconductors found in countless electronics, from the iPhone to crucial military equipment. But the global reliance on Taiwan for these essential chips has come under increased scrutiny amid a global shortage.
CNBC (formerly Consumer News and Business Channel) is an American basic cable business news channel that primarily carries business day coverage of U.S. and international financial markets.