May 15, 2020 / 4:51 AM / 3 months ago

Pompeo says TSMC's $12 bln investment to increase U.S. economic independence from China

May 15 (Reuters) - Chipmaker Taiwan Semiconductor Manufacturing Co's $12 billion investment in the United States will increase U.S. economic independence from China, Secretary of State Mike Pompeo said in a statement early on Friday.

TSMC, a major supplier to Apple Inc, announced on Friday it will build a $12 billion chip factory in Arizona, in what the company called a "strong partnership" with the U.S. government. Pompeo said the investment will strengthen U.S.-Taiwan ties.

"TSMC's announcement comes at a critical juncture, when China is competing to dominate cutting-edge technology and control critical industries. The TSMC facility in Arizona will increase U.S. economic independence", Pompeo said on Friday.

Reporting by Kanishka Singh in Bengaluru Editing by Shri Navaratnam

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below