Secretary Lutnick recently addressed the significant investment by Taiwan Semiconductor Manufacturing Company (TSMC) in the United States. The announcement marks a $100 billion commitment from TSMC to establish semiconductor manufacturing facilities in America.
Lutnick highlighted the role of previous administrations, noting that "under the Biden administration, TSMC received a $6 billion grant, and that encouraged them to build $65 billion." He further emphasized the impact of current policies: "Now you’re seeing the power of Donald Trump’s presidency, because TSMC...is coming to America with a $100 billion investment."
The decision for TSMC to invest heavily in U.S. manufacturing is attributed partly to tariff avoidance. Lutnick stated, "they can come here because they can avoid paying tariffs." This strategic move aims to serve major American companies such as Apple and Nvidia more effectively.
Lutnick expressed enthusiasm about this development, saying it represents an ongoing trend of manufacturing growth under President Trump's leadership. He praised C.C. Wei for spearheading this substantial investment and credited President Trump for facilitating these conditions.
Full remarks from Secretary Lutnick on this investment are available on Whitehouse.gov.
