Biden Announces Deal With Taiwan’s TSMC to Ramp Up US Chip Production

Biden Announces Deal With Taiwan’s TSMC , to Ramp Up US Chip Production.

On April 8, the White House said that it has reached an agreement with TSMC to help build new semiconductor manufacturing facilities in Arizona, 'The Hill' reports.

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The Biden administration will provide up to $6.6 billion in funding via the CHIPS and Science Act.

The president said that the money will “support the construction of leading-edge semiconductor manufacturing facilities right here in the United States.” .

Funding would also go toward training local workforces at the new facilities.

A year and a half ago, I toured the site of TSMC’s first new fab in Phoenix, Arizona, President Joe Biden, via statement.

TSMC’s renewed commitment to the United States, and its investment in Arizona.., President Joe Biden, via statement.

... represent a broader story for semiconductor manufacturing that’s made in America and with the strong support of America’s leading technology firms to build the products we rely on every day, President Joe Biden, via statement.

America's ability to produce its own microchips remains a key area of concern for Biden.

The CHIPS and Science Act, which was passed with bipartisan support in 2022, is intended to make the U.S. less dependent on foreign suppliers.

The White House has also made agreements with Intel, GlobalFoundries and Bae Systems, 'The Hill' reports.