Photo: Alamy
President Donald Trump announced on Monday that Taiwan Semiconductor Manufacturing Corp (TSMC) would be investing $100 billion in United States chip manufacturing, securing another big America First win for the administration.
This $100 billion is an additional investment to TSMC’s current $65 billion investment in the U.S., bringing its total investment in America to around $165 billion.
President Trump praised this move as an important step in solidifying American dominance in the world of chip and semiconductor manufacturing. “The most powerful AI chips in the world will be made right here in America,” he said.
The investment will go into building “five cutting edge fabrication facilities” in Arizona, according to President Trump, and will create “thousands of jobs.”
“This will create hundreds of billions of dollars in economic activity and boost America’s dominance in artificial intelligence and beyond,” he continued.
Trump emphasized this decision from TSMC as a “tremendous move” and described it as a matter of economic security and national security.
The president also invited C.C. Wei, the chairman and CEO of TSMC, to deliver remarks on the historic announcement at the White House on Monday.
Wei thanked President Trump for the opportunity to speak and agreed with Trump’s remarks that this investment would yield “thousands of high-paying jobs.”
U.S. Secretary of Commerce Howard Lutnick also noted during the announcement that Joe Biden’s administration had initially given TSMC a $65 billion grant to build in America.
Lutnick explained, “Now you’re seeing the power of Donald Trump’s presidency, because TSMC, the greatest manufacturing of chips in the world, is coming to America with a $100 billion investment…they can come here because they can avoid paying tariffs.”
Crypto Czar David Sacks also added, “The products that TSMC makes are literally the most important products in the world, I mean, these advanced chips power everything, they power AI, they power your phone, they power your cars…for TSMC to move here is a huge, huge development and we owe that to President Trump’s leadership on the economy and Secretary Lutnick as well.”
While fielding questions from the press, Trump specified that around 25,000 jobs would be created thanks to this investment by TSMC.
