Intel, a fallen Silicon Valley icon trying to restore its reputation as America’s most prominent semiconductor company, is working with the Trump administration on a plan to turn over the operation of its chip-making plants to a giant Taiwanese rival.

To push the tech industry to migrate chip manufacturing to the US, Trump has threatened to impose tariffs as high as 100% on all foreign-made processors.

A rumored joint venture between Intel Corp. and its biggest rival, Taiwan Semiconductor Manufacturing Co. TSM, could pose more potential problems than it’s worth, and the U.S. chip giant could actually fare fine without it, Bernstein Research concluded.