Taiwan Semiconductor Manufacturing Company (TSMC) has agreed to invest $65 billion in the United States, with plans to build a third semiconductor factory in Arizona. The investment is part of a preliminary agreement with the US Commerce Department and is tied to the Chips and Science Act, which aims to protect and strengthen American industrial power.
WASHINGTON, United States — The Taiwan chip giant TSMC has agreed to build a third semiconductor factory in Arizona , raising its total investment in the United States to $65 billion, US officials said Monday.
Under this agreement, Taiwan Semiconductor Manufacturing Company will receive up to $6.6 billion in direct funding from the US government and could get up to another $5 billion in the form of loans. As things stand now the United States is highly dependent on Asia for these components and thus vulnerable in the event of a geopolitical crisis, particularly in a sensitive place such as Taiwan, which China regards as a renegade province it is determined to take back some day.
The US company Intel, for instance, recently announced new production capacity in several states including Arizona, one of the swing states seen as a must win for Biden in November's election.GCash lending arm Fuse empowers underbanked Filipinos with P118 billion loans disbursedHOKA opens two new stores as running gains popularity among FilipinosThe Philippine economy is likely to grow at a faster pace this year, but it would still be below the government’s goal...
TSMC Semiconductor Factory Investment United States Arizona US Commerce Department Chips And Science Act American Industrial Power
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