News Briefing The U.S. nonprofit think tank Information Technology & Innovation Foundation (ITIF) recently published its "Trump Risk Index" Taiwan ranked 31st, significantly lower than Mexico (1st) and Thailand (2nd), which have been popular investment destinations in recent years. Impact analysis Based on Trump’s pre-election statements and policy indications, tariffs appear to be a negotiation tool under his "America First" agenda, with varying core issues depending on the target country. ITIF evaluated tariff risk for individual countries using four dimensions: Military Spending/GDP, Trade Balance/GDP, Toughness on China, and Anti-U.S. Policies. Taiwan ranked 31st, well below countries with closer industrial ties to Taiwan, such as Mexico, Thailand, South Korea, and Japan. Notably, Canada ranked 5th. Similarly, the Economist Intelligence Unit (EIU) released a top 10 "Trump Risk Index Ranking," with Mexico, China, and Vietnam ranking 1st, 6th, and 9th, respectively, while Taiwan did not make the list. Trump‘s reelection could have a considerable impact on global supply chain layouts. Mexico, Thailand, and Vietnam—key overseas manufacturing hubs for Taiwan’s supply chain—face similar or even higher tariff risks compared to Taiwan. Overseas factory setups provide benefits such as risk diversification and enhanced supply chain resilience and remain an encouraged strategy. However, from a reverse perspective, Taiwan should proactively prepare to attract more investment opportunities. For Taiwan's PCB industry, which focuses on Thailand as a key overseas expansion market, the above insights suggest that businesses should maintain Taiwan as a critical investment hub while pursuing global layouts. A balanced approach is essential to ensure strategic resilience.