Summary
President Trump, after taking office, initiated a tariff war with China, Canada, and Mexico immediately, fulfilling the commitment he made in November 2024. This report will update the latest developments and impact analysis of this event. Additionally, Trump announced that high tariffs would be imposed on certain products, specifically targeting Taiwanese semiconductor products with a 100% tariff. If this policy is implemented, it could lead to skyrocketing chip prices in the US market and exacerbate the reorganization of the global supply chain, thus resulting in a profound impact on the technology and trade markets.

Table of Contents
1. Trump Administration Initiating Tariff Wars against China, Canada, and Mexico
  (1) China-US Trade War Initiated as Scheduled; Trump to Impose 10% Tariff on China through
  IEEPA
  (2) No Alliances Spared; Trump Initiated Tariff War on Canada and Mexico
  (3) Tariff War Also Impacts US and May Affect Federal Reserve policies

2. The Trump Administration's Comprehensive Tariff Increases on Specific Goods
  (1) Inclusion of Semiconductors in the Trump Tariff List, with a Focus on Taiwan
  (2) Impact of Chip Tariffs on TSMC: Potential Next Steps

3. TRI’s View
  (1) Trump Officially Launches Tariff War and Utilizes Tariffs as Bargaining Chip with Various
  Countries
  (2) Taiwan’s Semiconductor Industry Under Scrutiny: TSMC May Accelerate Expansion of US
  Facilities

＜Total Pages：28＞