Former U.S. President Donald Trump said that he wants Taiwan to pay the U.S. for "protection".

The 78-year-old Republican expressed the view in an exclusive interview with Bloomberg Businessweek published on Jul. 16.

Taiwan should pay for U.S. protection

While Trump expressed the sentiment that he's "cool" to the idea of protecting Taiwan from China, he's at best "lukewarm" to the idea of fighting against "Chinese aggression".

His apprehension largely stems from an economic perspective, claiming without evidence that Taiwan, a self-ruled island, took the chip business away from the U.S.

Taiwan currently produces more than 90 per cent of the world's advanced semiconductor chips, which are used in smartphones and more.

"I mean, how stupid are we? They took all of our chip business. They're immensely wealthy," Trump said.

"Why? Why are we doing this?"

The 78-year-old Presidential candidate expressed that he wants Taiwan to pay the U.S. for protection.

“I don’t think we’re any different from an insurance policy. Why? Why are we doing this?”

To add to that, Trump thinks it would be politically difficult to defend an island located on the other side of the world.

He pointed out that Taiwan is 9,500 miles (15,288 km) away from the U.S. while it is a mere 68 miles (109 km) away from China.

Taiwan willing to take up more responsibility

On Jul. 17, Taiwan's Premier Cho Jung Tai at a press conference as reported by Focus Taiwan said that Taiwan is willing to take up more responsibility for its self-defence and the security of the region.

Cho said that Taiwan has been, and is gradually increasing its defence spending, re-introducing the one-year compulsory military service, and strengthening the society's tenacity to various challenges.

"I believe that as long as we continue to demonstrate [these efforts], we will receive support from more countries," Cho said.

He also thanked the U.S. for constantly expressing concerns over Taiwan's security.

Top image via Donald J. Trump/Facebook