USUS PoliticsExecutive Branch

Taiwanese Chip Giant Receives $6.6 Billion From US Government for Arizona Factories

The subsidy is part of the Biden administration’s strategy to boost the domestic semiconductor industry.
Save
Taiwanese Chip Giant Receives $6.6 Billion From US Government for Arizona Factories
US President Joe Biden greets attendees after delivering remarks on his economic plan at TSMC Semiconductor Manufacturing Facility in Phoenix on Dec. 6, 2022. Brendan Smialowski/AFP via Getty Images
Emel Akan
Updated:
0:00

The Biden administration announced on April 8 that Taiwan Semiconductor Manufacturing Co. (TSMC), the world’s largest chipmaker, has agreed to expand its investment in Arizona by promising to manufacture the world’s most sophisticated chips on U.S. soil.

The Commerce Department announced that it would provide up to $6.6 billion in direct funding to the Taiwanese firm through the CHIPS and Science Act, which was signed into law by President Joe Biden in 2022.

Emel Akan
Emel Akan
Reporter
Emel Akan is a senior White House correspondent for The Epoch Times, where she covers the policies of the Trump administration. Previously, she reported on the Biden administration and the first term of President Trump. Before her journalism career, she worked in investment banking at JPMorgan. She holds an MBA from Georgetown University.
twitter
Related Topics