Trump signs "Great and Beautiful Act" into law

The "Great and Beautiful Act," a controversial domestic policy initiative, has been signed into law by President Trump, potentially impacting Taiwan and other nations. The bill passed the Senate and House by narrow margins. The $4.5 trillion fiscal and tax reform bill includes significant tax cuts, reduced social welfare spending, and increased defense and immigration enforcement budgets, including a boost to semiconductor investment tax credits. It also signals a shift away from green energy. The law's impact could lead to increased reciprocal tariffs from the U.S., potentially affecting trade with Taiwan. The bill also offers tax incentives for foreign companies investing in U.S. manufacturing and R&D, potentially boosting Taiwanese investment.