"Despite TSMCs best efforts to comply with all relevant export control and sanctions laws and regulations, there is no assurance that its business activities will not be found incompliant with export control laws and regulations," TSMC said.Further, "if TSMC or TSMCs business partners fail to obtain appropriate import, export or re-export licenses or permits or are found to have violated applicable export control or sanctions laws, TSMC may also be adversely affected, through reputational harm as well as other negative consequences, including government investigations and penalties resulting from relevant legal proceedings," TSMC warned.TSMC is thriving despite years of tariffs and export controls, its report said, with at least one analyst suggesting that, so far, the company appears "somewhat tariff-proof." However, all of that could be changing fast, as "US President Donald Trump announced in 2025 an intention to impose more expansive tariffs on imports into the United States," TSMC said."Any tariffs imposed on imports of semiconductors and products incorporating chips into the United States may result in increased costs for purchasing such products, which may, in turn, lead to decreased demand for TSMCs products and services and adversely affect its business and future growth," TSMC said.And if TSMC's business is rattled by escalations in the US-China trade war, TSMC warned, that risks disrupting the entire global semiconductor supply chain.Trump's semiconductor tariff plans remain uncertain.
About a week ago, Trump claimed the rates would be unveiled "over the next week," Reuters reported, which means they could be announced any day now.