President Donald Trump announced a key partnership with a Taiwan-based semiconductor company on March 3, which will see billions invested in cutting-edge chip-making facilities as his administration looks to reshore manufacturing in the United States.
Taiwan Semiconductor Manufacturing Company (TSMC) will invest $100 billion in new manufacturing plants in the United States over the next three years.
“Taiwan Semiconductor is announcing that they will be investing at least $100 billion in new capital in the United States over the next short period of time to build state-of-the-art semiconductor manufacturing facilities,” Trump said.
“This is a tremendous thing for our country.”
TSMC, one of the world’s largest makers of semiconductor chips used in artificial intelligence systems, household appliances, and smartphones, has been a part of the tariff conversation in recent weeks. This was one reason why TSMC shares sank nearly 7 percent last month….