Taiwan’s government will soon look at whether it needs to help its domestic industry over threats by President Donald Trump to put tariffs on semiconductors, Premier Cho Jung-tai said on Wednesday.

Though the United States is the global leader in designing chips, the vast majority of chip production happens overseas, particularly in U.S.-ally Taiwan.

Semiconductor business between Taiwan and the United States is a "win-win" model for both sides given the high level of complementarity, the island's economy ministry said on Tuesday responding to tariff threats from U.