Chip giant TSMC pledges another $100bn to expand US production

'High-paying' jobsWei did not give a timeline of when the new plants were likely to be built, saying only that it would depend on the "market situation". The new plants would add to the eight already being built or planned."We believe this investment will help to further foster the development of the US semiconductor ecosystem, strengthen the supply chain, and support an increasing number of high-tech, high-paying jobs in the United States," Wei said.President Trump wants to boost US production of semiconductor chips, which are found in machines ranging from cars to smartphones, and has been a priority for the US since shortages during the Covid-19 pandemic exposed supply chain risks.He has previously attributed a decision by TSMC last year to expand its investments in the US to his threats of tariffs on Taiwan and on the global semiconductor business.In January this year, the US said it had agreed to cut tariffs on goods from Taiwan to 15% in exchange for hundreds of billions of dollars in investment aimed at boosting domestic production of semiconductors.Welcoming the plans, Commerce Secretary Howard Lutnick said: "President Trump's leadership is driving companies to invest in American manufacturing. "TSMC's announcement of an additional $100 billion investment following our historic deal on trade and investment with Taiwan will create tens of thousands of American jobs and bring advanced semiconductor manufacturing back to America."