TAIPEI (Taiwan News) — Chunghwa Telecom Chair Chien Chih-cheng (簡志誠) said Thursday that US tariffs have had little impact on the company and he sees scope for opportunity.

Since the telecom mainly serves domestic demand, the tariffs have had little effect, the chair said, per CNA. Furthermore, capital expenditures and infrastructure plans remain unchanged.

Chien said that changes in tariff policies may prompt companies to adjust their overseas plant locations. If Taiwanese manufacturers increase production in the US, Chunghwa could benefit from providing network infrastructure to support these expansions, he added.

Chunghwa operates more than 11 global offices, including in the US, Japan, and Vietnam. Market sources say the company is reportedly helping TSMC build network infrastructure for its US fabs and has secured a contract for TSMC’s new plant in Kumamoto, Japan.

Industry observers said they see TSMC’s growing US investments as new business opportunities for Chunghwa, although the company has not confirmed these deals. Chien said wherever Taiwanese companies go, Chunghwa Telecom will follow to provide services.

Following the tariff announcement, speculation arose about rising iPhone prices. Chunghwa Telecom President of Business Group Hu Hsueh-hai (胡學海) said the company saw a slight sales increase in April but will monitor consumer spending amid economic changes, per Liberty Times.