United States – The giant Taiwanese semiconductor manufacturing company, TSMC, has agreed to build a semiconductor factory in Arizona, which will be the third in the United States.
US officials reported yesterday, Monday, that the Taiwanese company’s total investments in the United States will reach $65 billion.
President Joe Biden’s senior advisor on the economy, Lael Brainard, praised the investment, considering it “a new chapter for the American semiconductor industry.”
She told reporters that the investment planned by TSMC is based on a preliminary agreement with the US Department of Commerce linked to a major investment law called the “Chips and Science Act.”
Based on this agreement, the Taiwanese company will receive an amount of up to $66 billion in direct financing from the US government, which can increase by an additional amount of five billion dollars in the form of loans.
The United States is striving to prevent a shortage of advanced electronic chips necessary for the manufacture of cell phones, electric cars, and advanced military equipment.
The United States currently relies heavily on Asia for these components and thus finds itself in a weak position in the event of a geopolitical crisis.
Source: AFP
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2024-04-09 21:18:34
