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(Corrects television station name to NewsNation, paragraph 2) TAIPEI (Reuters) -Taiwan will not agree to a deal with the United States for half of all semiconductor production to take place in the country, the island's top tariff negotiator said on Wednesday after returning home. U.S. Secretary of Commerce Howard Lutnick told U.S. television network NewsNation over the weekend that Washington's pitch to Taiwan would be a 50-50 split in making chips, the vast majority of which are now made on the island. Taiwan Vice Premier Cheng Li-chiun, who is leading the tariff talks with Washington, told reporters upon getting back to the island that she had not discussed the 50-50 idea suggested by the U.S. during the talks. "Our negotiating team has never made any commitment to a 50-50 split on chips. Rest assured, we did not discuss this issue during this round of talks, nor would we agree to such conditions," she said, according to Taiwan's official Central News Agency. Neither the U.S. Commerce Department nor the Office of the United States Trade Representative responded to requests for comment sent outside of U.S. business hours. Taiwan, home to the world's biggest contract chipmaker TSMC, runs a large trade surplus with the United States. The island's exports to the United States are currently subject to a 20% tariff. TSMC, whose business is surging on strong demand for artificial intelligence applications, is investing $165 billion to build chip factories in the U.S. state of Arizona, though the bulk of its production will remain in Taiwan. Taiwan's government said last month that it hoped for a more favourable tariff rate from the United States after talks achieved "certain progress". Speaking in parliament in Taipei on Tuesday, Premier Cho Jung-tai said Cheng had had multiple talks with the United States on tariff issues. "The most critical substantive consultations are currently underway," he said. Cheng, speaking at the airport, said that "detailed" discussions had taken place which yielded "certain progress", the Central News Agency added. (Reporting by Ben BlanchardEditing by Shri Navaratnam)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)

TAIPEI (Reuters) -Taiwan will not agree to a deal with the United States for half of all semiconductor production to take place in the country, the island's top tariff negotiator said on Wednesday after returning home. U.S. Secretary of Commerce Howard Lutnick told U.S. television network NewsNation over the weekend that Washington's pitch to Taiwan would be a 50-50 split in making chips, the vast majority of which are now made on the island. Taiwan Vice Premier Cheng Li-chiun, who is leading the tariff talks with Washington, told reporters upon getting back to the island that she had not discussed the 50-50 idea suggested by the U.S. during the talks. "Our negotiating team has never made any commitment to a 50-50 split on chips. Rest assured, we did not discuss this issue during this round of talks, nor would we agree to such conditions," she said, according to Taiwan's official Central News Agency. Neither the U.S. Commerce Department nor the Office of the United States Trade Representative responded to requests for comment sent outside of U.S. business hours. Taiwan, home to the world's biggest contract chipmaker TSMC, runs a large trade surplus with the United States. The island's exports to the United States are currently subject to a 20% tariff. TSMC, whose business is surging on strong demand for artificial intelligence applications, is investing $165 billion to build chip factories in the U.S. state of Arizona, though the bulk of its production will remain in Taiwan. The company declined to comment on proposals for a 50-50 chip production deal. Taiwan's government said last month that it hoped for a more favourable tariff rate from the United States after talks achieved "certain progress". Speaking in parliament in Taipei on Tuesday, Premier Cho Jung-tai said Cheng had had multiple talks with the United States on tariff issues. "The most critical substantive consultations are currently underway," he said. Cheng, speaking at the airport, said that "detailed" discussions had taken place which yielded "certain progress", the Central News Agency added. Separately, Taiwan's presidential office said late on Tuesday that President Lai Ching-te had met the visiting Luke J. Lindberg, Under Secretary for Trade and Foreign Agricultural Affairs at the U.S. Department of Agriculture. Lai said that a Taiwan agricultural delegation visiting the United States in September planned to buy $10 billion of U.S. agricultural goods over the coming four years, including soybeans, wheat, corn and beef. (Reporting by Ben Blanchard; Editing by Shri Navaratnam and Stephen Coates)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)

By Supantha Mukherjee STOCKHOLM (Reuters) -When Daniel Ek founded Spotify in 2006, a viable music product was a "moon shot." The global music industry was struggling with years of declining sales, online music piracy was rampant, and services like Apple's iTunes were pricey. Ek believed if access to music was as easy as turning on a tap – in a way that was legal and fair to artists – users would come. The key was streaming, not downloads, an idea that revolutionized the industry and catapulted Spotify into a $140 billion music powerhouse. The serial entrepreneur, who announced on Tuesday he will step down as Spotify's CEO next year, has his sights set on building the next Spotify — albeit not in the music industry. Ek told Reuters on Wednesday he wants to focus on companies in Europe that are "working on some of the biggest challenges through technology that make a meaningful difference." "Big challenges often appear impossible until someone decides to tackle them," Ek said in an email. "At Spotify, we started with what felt like an impossible idea. Nearly 20 years later, that idea is used by almost three-quarters of a billion people around the world … What once looked unreasonable is now obvious." Calling himself an "optimist" and a "problem-solver at heart," Ek said, "We’re at a crossroads for the kind of future we want to build" and that transitioning into the role of executive chair at Spotify would give him the chance to dedicate more of his time to this kind of problem-solving and building beyond Spotify. Ek has pledged to invest through his venture capital firm Prima Materia 1 billion euros ($1.18 billion) of his own wealth in European “moonshot” projects — early-stage startups in deep technology, AI, and climate and health tech. WAR TECH SPARKS ARTIST BACKLASH In 2018, Ek co-founded Neko Health to help people stay healthy through preventive measures and early detection. The company has raised $325 million in total funding. Ek has also invested in Germany's Helsing, a maker of AI-controlled combat drones that has received over a billion dollars to become the largest defence startup in Europe, valued at $12 billion. This investment, though, has drawn criticism. Music groups including Massive Attack, King Gizzard & the Lizard Wizard, and Hotline TNT removed their music from Spotify in protest.  "Music and weapons are not a good mix," said Simon Dyson, analyst at Omdia. With some high-profile artists pulling their music from the service, "the sounds of protest are starting to become a distraction," he said. The company declined to comment on Ek's investment in Helsing. Ek has weathered criticism before, from artist pay disputes to controversies around Spotify’s podcast investments. Supporters credit him with creating a legal model that drew listeners away from piracy, but critics note Spotify's outsized influence on artists, which has often translated to inequity for independent labels. FROM CODER TO MUSIC INDUSTRY DISRUPTOR As a 23-year-old coder, Ek started Spotify to challenge online music piracy with a legal alternative, something even big music companies were struggling to address. When he steps down from the CEO role next year to become executive chair, he will pass the reins of a music giant to his two long-trusted aides, Gustav Soderstrom and Alex Norstrom. Ek, now 42, grew up in a Stockholm suburb and worked in several startups before teaming up with co-founder Martin Lorentzon to start Spotify.  His proposition – music funded by subscriptions and ads – helped redirect fans from piracy and pulled labels, artists and advertisers into a single marketplace.  Under Ek, Spotify pushed three big levers that reshaped the business: price-disciplined subscriptions, algorithmic playlists that could mint hits overnight, and an ever-widening content range, from podcasts to audiobooks.  Ek’s legacy is visible in Spotify user habits – a monthly fee that millions treat as a utility, playlists that serve as cultural gatekeepers, and podcasts that have become a daily routine.  A Netflix miniseries, "The Playlist", showcased the birth and rise of Spotify in 2022.  Although Ek plans to focus on building other companies, he intends to stay involved in Spotify. "My Spotify co-founder likes to say that the value of a company is the sum of all problems solved, and history shows that progress often comes from those willing to go against conventional wisdom," Ek told Reuters. ($1 = 0.8511 euros) (Reporting by Supantha Mukherjee in Stockholm; Editing by Sayantani Ghosh and Lisa Shumaker)

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