Taiwan Semiconductor Manufacturing Co. (TSMC) CEO C.C. Wei announced at the White House on Monday that his company will further invest at least $100 billion in chip-manufacturing plants in the United States over the next several years.
President Donald Trump, who attended the event where the announcement was made, noted that had TSMC manufactured the chips in Taiwan and shipped them to the United States, they would have been subjected to 25%-50% tariffs.
“By doing it here, there’s no tariffs,” Trump said.
Trump said that the deal was critical to United States national security as Taiwan faces the threat of invasion by communist China.
“Without the chips and semiconductors, nothing runs today,” Trump said. “You can’t buy a car without them, you can’t — a radio, a television, you can’t get anything.”
“We thought it was very important, obviously business-wise, but we…
