Taiwan chip maker Vanguard says Trump’s threatened tariffs could fuel inflation

Taiwanese chip maker Vanguard International Semiconductor warned on Tuesday that US tariffs on imported chips could spur inflation and impact global economic growth, but said it expects the direct impact on the company would be small. US President Donald Trump said last week that he intends to impose auto tariffs in the neighbourhood of 25% and similar duties on semiconductors and pharmaceutical imports, the latest in a series of threats that could upend international trade.

Vanguard Chairman Leuh Fang told analysts on a post-earnings call that the…