US President Donald Trump announced on Monday that Taiwan Semiconductor Manufacturing Co (TSMC) plans to invest $100 billion more in the United States, bringing the total investment to $165 billion. The investment will be for three new chip manufacturing plants and two packaging facilities in Arizona.
The company’s CEO, C.C. Wei, said the investment will create thousands of high-paying jobs. This is on top of the $65 billion TSMC had already announced as part of its plans to invest in the US.
TSMC produces chips for major companies such as Apple, Intel, and Nvidia. The company’s first factory in Arizona has started mass production of its 4-nanometer chips. The new investment is expected to support the growth of the US semiconductor industry, which was severely impacted by the COVID-19 pandemic.
The move comes after former President Joe Biden signed a $280 billion law, the CHIPS and Science Act, to promote chip manufacturing in the US. However, Trump has taken a different approach, advocating for tariffs on imported chips to bring production back to the US.
TSMC’s investment is seen as a major boost to the US economy, with thousands of jobs expected to be created. The company’s CEO attributed the investment to the incentives offered by the Biden administration, including billions in subsidies.
Source: https://www.pbs.org/newshour/politics/watch-live-trump-makes-investment-announcement-as-he-prepares-speech-to-congress