TAIPEI (Taiwan News) — Taiwan Semiconductor Manufacturing Co. shares rose NT$55, or 4.89%, on Thursday to close at a record high of NT$1,180 (US$40).

The gain followed US President Donald Trump’s call for a 100% tariff on foreign-made semiconductors. The plan includes potential exemptions for companies that are in the process of establishing US-based facilities.

TSMC, a key supplier to American firms such as Nvidia and Apple, is viewed as a possible beneficiary of the policy due to its ongoing expansion in the US, Reuters reported. Institutional investors said this may encourage US clients to increase domestic chip production, potentially giving TSMC room to adjust its foundry service pricing, according to Liberty Times Net.

Trading volume exceeded 60,000 lots, or 60 million shares, on Thursday, reflecting strong investor interest. TSMC is now the 15th most expensive stock on the Taiwan stock market.

Earlier this year, TSMC said it intends to build six chip fabrication plants, two advanced packaging facilities, and a research and development center in Arizona to meet rising demand from US clients.