TSMC defends $100 billion US funding, denies any strain from Trump admin – Firstpost

High chipmaker Taiwan Semiconductor Manufacturing Firm (TSMC) together with Taiwanese president Lai Ching-te held a joint press briefing and defended the corporate’s $100 billion funding within the US, saying it was pushed by buyer demand, not strain from the Trump administration.

TSMC mentioned earlier this week it will make investments $100 billion in three extra chip manufacturing vegetation, together with two packaging services in Arizona.

Taiwan Semiconductor Manufacturing Firm (TSMC) is the world’s largest chipmaker.

The transfer raised considerations that Taiwan may not profit a lot from shifting superior manufacturing to the US.

Taiwan President Lai Ching-te dismissed claims that TSMC’s choice was influenced by US strain. Earlier, President Donald Trump had accused Taiwan of taking US chip enterprise and mentioned he wished it again.

“TSMC’s choice is critical for its future growth. The federal government didn’t face strain from america throughout TSMC’s funding course of within the US,” mentioned Lai.

TSMC CEO CC Wei emphasised that he had spoken with the agency’s clients and realised that TSMC’s present enlargement plans within the US had been inadequate to fulfill present demand.

“Buyer demand has been steadily rising. For TSMC, our funding plans are based mostly on buyer wants, and we’re very cautious,” Wei mentioned.

He mentioned that the quantity of funding within the US could appear massive, however it’s nonetheless not sufficient to fulfill demand.

US assist for Taiwan unsure underneath Trump 2.0

US assist for Taiwan appears unsure underneath the Trump administration. Trump has argues that Taiwan relies upon an excessive amount of on the US and will improve its protection spending.

A Pentagon nominee not too long ago steered that Taiwan ought to spend about 10 per cent of its GDP on protection to forestall a battle with China.

Final month, Taiwan’s President Lai Ching-te pledged to boost protection spending to over 3 per cent of GDP, up from lower than 2.5 per cent.