Taiwan Semiconductor Manufacturing Co. (TSMC) has reported its slowest growth in 18 months, with monthly revenue rising by 16.9% in October — a pace that marks the company’s weakest performance since February 2024.

Taiwan’s lead tariff negotiator stated Wednesday that the island “will not agree” to producing 50% of its semiconductors in the United States, pushing back against Washington’s efforts to relocate more chip manufacturing onto US soil.