After weeks of rumors, a long-teased trade deal finally materialized on Thursday, bringing Taiwan’s tariff rate down to 15% in return for US$500 billion in investment. Chip giant TSMC looks set to double its existing investment in Arizona, the company appearing bullish of the AI boom continuing at its first-quarter earnings meeting. Taiwan’s stock market seemed to agree, setting new record highs. Meanwhile, the standoff over President Lai Ching-te's special defense budget continued and the government warned of China’s increasing disinformation aimed at sowing confusion and division among Taiwan’s public.