TAIPEI—Taiwanese chipmaking giant TSMC’s plan to invest $100 billion in the United States was a “historic moment” for Taiwan-US ties, President Lai Ching-te said Thursday.
TSMC, the world’s largest chipmaker, announced the plan this week after US President Donald Trump threatened to impose tariffs on overseas-made chips.
It will take the total amount TSMC has pledged to invest in the United States to $165 billion, which the company said was the “largest single foreign direct investment in US history”.
This was a “historic moment for Taiwan-US relations”, Lai said in a joint news conference with TSMC chairman and chief executive C.C. Wei at the Presidential Office.
It comes after Trump’s accusations that Taiwan stole the US chip industry and his threats to impose tariffs of up to 100 percent, as well as Taipei’s promises to invest more in the United States.
TSMC has long faced demands to move more of its production away from Taiwan, with fears that supplies of the critical technology could be disrupted in any conflict with Beijing.
