International News 10 April 2025
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Trump threatens TSMC with up to 100% tax if it doesn't build a factory in the US soon
US President Donald Trump has demanded that Taiwan Semiconductor Manufacturing Company (TSMC) immediately fulfil its promise to build a factory in the US, threatening a 100% tax on any failure to do so. He criticised the previous administration for providing a $6.6 billion grant to TSMC's US unit for semiconductor production in Arizona, stating that the company did not require the financial support. TSMC has not yet commented on the matter. In March, TSMC announced plans to invest $100 billion in the US, including constructing five chip facilities. Additionally, the chipmaker may face fines of over $1 billion to resolve a US export control probe related to chips produced for Huawei Technologies.
Trump revitalises US coal industry
Despite global efforts to reduce carbon emissions, US President Donald Trump has signed executive orders to support the coal industry. The President's objective is to revitalise an industry that has experienced decline in recent years, with a stated aim of creating employment opportunities for miners. The demand for electricity is increasing, driven by the growth of data centres, electric vehicles, and cryptocurrencies, leading Trump to believe that coal can still play a role in the national energy system. The executive orders also include extending the life of coal-fired power plants that were previously planned for closure. Additionally, Trump has instructed the Energy Secretary to assess whether metallurgical coal should be classified as a critical mineral, which could potentially lead to emergency powers being used to boost production.
https://internasional.kontan.co.id/news/trump-hidupkan-kembali-industri-batubara-amerika-serikat-as
Oil prices close down US$1 to lowest level in 4 years, WTI to US$59.6
Oil prices have fallen to their lowest level in four years, decreasing by over US$1 per barrel, as concerns about a deepening recession caused by the trade war between the US and China continue to grow. On Tuesday, Brent crude oil futures for June delivery fell by 2.16% to US$62.82 per barrel, while West Texas Intermediate crude oil futures for May delivery dropped by 1.85% to US$59.58 per barrel. The announcement of tariffs by US President Donald Trump on all US imports has caused both benchmark prices to decrease by 16% since then. The US is set to impose 104% tariffs on China, with the latter vowing not to back down, raising concerns about a global economic downturn.