06:03 AM EDT, 08/07/2025 (MT Newswires) -- Taiwan Semiconductor Manufacturing ( TSM ) shares were up more than 5% in recent Thursday premarket activity after multiple media reports said that the company will be exempt from paying a 100% tariff on shipments to the US.

"TSMC is exempted from the chip tariffs because it has set up plants in the US," Taiwan's National Development Council minister Liu Chin-ching said in Taipei, according to Bloomberg.

US President Trump had said previously that a 100% tariff would be imposed on semiconductors manufactured abroad unless the companies commit to building in the United States.

Taiwan Semiconductor did not immediately respond to an MT Newswires request for comment.