By David Shepardson and Steve Holland
WASHINGTON (Reuters) -TSMC CEO C. C. Wei plans to meet with President Donald Trump on Monday to discuss the Taiwanese semiconductor company’s new $100 billion investment plans in the United States.
A person briefed on the matter said Taiwan Semiconductor Manufacturing Co. is expected to announce a $100 billion investment in the United States. In April, TSMC agreed to expand its planned U.S. investment by $25 billion to $65 billion and to add a third Arizona factory by 2030.
The U.S. Commerce Department under then President Joe Biden finalized a $6.6 billion government subsidy in November for TSMC’s U.S. unit for semiconductor production in Phoenix, Arizona.
TSMC said it looks “forward to discussing our shared vision for innovation and growth in the semiconductor industry, as well as exploring ways to bolster the technology sector along with our customers.”
Biden signed the CHIPS and Science Act legislation in 2022 to provide $52.7 billion in subsidies for American semiconductor production and research to boost domestic production and make the United States less reliant on semiconductors made in Asia.
Trump’s Commerce Secretary Howard Lutnick told lawmakers last month that the program was “an excellent down payment” to rebuild the sector but he has declined to commit grants that have already been approved by the department, saying he wanted to “read them and analyze them and understand them.”
A TSMC spokesperson said last month the company had received $1.5 billion in CHIPS Act money before the new administration came in as per the milestone terms of its agreement.
TSMC last year agreed to produce the world’s most advanced 2-nanometer technology at its second Arizona fab expected to begin production in 2028. TSMC also agreed to use its most advanced chip manufacturing technology called “A16” in Arizona.
The TSMC award included up to $5 billion in low-cost government loans.
(Reporting by David Shepardson and Karen Freifeld; Editing by Emelia Sithole-Matarise and Alistair Bell)
