Trump, TSMC Announce $100 Billion Plan to Build Five New US Factories

Taiwan semiconductor company TSMC plans to make a fresh $100 billion investment in the United States that involves building five additional chip facilities there in coming years, its CEO announced with President Donald Trump on Monday.

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Taiwan's dominant position as a maker of chips used in technology from cellphones and cars to fighter jets has sparked concerns of over-reliance on the island, especially as China ramps up pressure to assert its sovereignty claims.

Taiwan Semiconductor Manufacturing Co, the world's largest contract chipmaker and a leading supplier to major US hardware manufacturers, unveiled the plan as Chief Executive C C Wei met Trump at the White House.

"We must be able to build the chips and semiconductors that we need right here," Trump said. "It's a matter of national security for us."