Shares of Taiwan Semiconductor Manufacturing (NYSE:TSM) clinched a record high on Thursday after Taiwan said its top chip manufacturer will not have to pay a 100% tariff on such imports to the US. Taipei-listed TSMC stock jumped nearly 5% to 1180 won at the time of writing.

Taiwan said its leading chip manufacturer will not have to pay a 100% tariff on such imports to the US, helping drive Taiwan Semiconductor Manufacturing Co. shares to a record.

By Andrea Shalal, David Shepardson and Arsheeya Bajwa WASHINGTON (Reuters) -President Donald Trump said the United States will impose a tariff of about 100% on imports of semiconductors but offered up a big exemption - it will not apply to companies that are manufacturing in the U.