US Commerce Secretary says if China seized TSMC it would be 'absolutely devastating' to the US economy, as it buys 92% of its cutting-edge chips from the Taiwanese manufacturer

TSMC's position as the world's largest chip manufacturer puts it in an enviable position in many ways, not least that the entire world is dependent on its output of today's best computer chips, and it reaps huge financial rewards as a result. 

However, nowhere is that dominance more keenly felt than in the United States, as US Commerce Secretary Gina Raimondo ponders what might happen should it fall into antagonistic hands.

When asked about the impact of a Chinese invasion of Taiwan and the subsequent seizure of TSMC...