Scott Bessent: “97% of the high end chips are made in Taiwan.”

“I would say that the single biggest threat to the world economy, the single biggest point of single failure is that 97% of the high end chips are made in Taiwan. If that island were blockaded, that capacity were destroyed, it would be an economic apocalypse. So we are reshoring the semiconductor industry to the US with the defense contractors.” (26:16–26:22)

This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.