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President Donald Trump pointed to the costs of what he called a historic economic windfall, saying on Thursday the US took in hundreds of billions of dollars without inflation while bolstering national security.
“Major Financial Numbers released today,” Trump wrote on Truth Social. “Our country has never done better! Many people ask me the reason for this, and I tell them, in just one word – MONEY!
“We’ve taken hundreds of billions of dollars, almost inflation-adjusted, and our national security has never been stronger than it is today,” he added. “GOD BLESS THE USA”
Trump’s deployment came on the same day the United States and Taiwan reached a major trade deal aimed at reviving semiconductor production and strengthening US supply chains, underscoring the president’s rhetoric that tariffs can be used as a basis for rebuilding the domestic industry.
US, TAIWAN REACH $250B ‘AMERICA FIRST’ TARIFF DEAL FOR MORE SEMICONDUCTORS
President Donald Trump delivered remarks about the same tax during a ceremony in the Rose Garden. (Brendan Smialowski/AFP via Getty Images/Getty Images)
Under the agreement, Taiwanese semiconductor and technology firms will contribute at least $250 billion in direct investment in the US to promote “America First trade and investment,” and additional guarantees of $250 billion to support the expansion of imports across the US, according to the Commerce Department.
US and Taiwanese officials said the deal was designed to reverse decades of sales that reduced America’s share of global semiconductor production from 37% in 1990 to less than 10% by 2024 – a decline that has raised economic and national security concerns in Washington.
Future U.S. semiconductor tariffs will favor Taiwanese companies that build manufacturing operations in the U.S., allowing for duty-free sales tied directly to increased domestic production capacity.
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Taiwan Semiconductor Manufacturing Co. is the world’s leading manufacturer of semiconductors. (Mike Kai Chen/Bloomberg via Getty Images/Getty Images)
Officials said the framework is intended to reward companies that invest in American workers and facilities while discouraging reliance on overseas manufacturing.
The agreement also calls for Taiwan to facilitate U.S. investment across several key industries, including semiconductors, artificial intelligence, defense technology, telecommunications and biotechnology — sectors considered vital to both economic competitiveness and national security.
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Taiwan Semiconductor Manufacturing Company has invested billions in a chip manufacturing plant in Arizona. (Rebecca Noble/Bloomberg via Getty Images/Getty Images)
The investment is expected to expand market access for US companies, deepen technological cooperation with Taiwan and strengthen US leadership in critical and emerging industries.
Trump has long argued that the tariffs protect American workers, reduce dependence on foreign rivals and give the US leverage in trade negotiations. While critics have warned that tariffs could raise consumer prices, Trump has repeatedly rejected that claim, pointing to economic data he says show strong growth with moderate inflation.
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The Taiwan deal shows that tariffs may remain a pillar of Trump’s broader trade strategy as his administration pushes to rebuild domestic manufacturing and protect key supply chains.
FOX Business’ Jasmine Baehr and Eric Revell contributed to this report.
