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Trump announces Taiwanese chip giant's $100 billion investment in U.S.
President Trump announced that a leading Taiwanese semiconductor chip company plans to invest $100 billion in new manufacturing plants in the U.S.
Speaking at the White House, Commerce Secretary Howard Lutnick credited the tariffs with the TSMC announcement. Semiconductor chips are found in everything from iPhones to cars, and demand has boomed in recent years thanks to the explosion in artificial intelligence, which requires an enormous amount of computing power. Both the Biden and Trump administrations have viewed increasing U.S. chip manufacturing a matter of national security.
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