Taiwan Semiconductor Manufacturing Co. CNA file photo
Washington, Dec. 11 (CNA) U.S. Commerce Secretary Howard Lutnick said Thursday he believes Taiwan Semiconductor Manufacturing Co. (TSMC) could boost its American investment to more than US$200 billion and create 30,000 jobs in the process.
In a televised CNBC interview, Lutnick was asked about the CHIPS Act, which he heavily criticized, citing what he described as overly generous subsidies to chipmakers.
He said the Biden administration handed Intel US$11 billion "like it was a shareholder Christmas card."
The Trump administration has since taken the US$11 billion existing grants and funds from the CHIPS Act and turned it into equity in Intel.
He similarly criticized the US$6 billion given to TSMC to invest US$60 billion to build plants in the United States.
"Now we thought that wasn't right. They went up to US$160 billion. I think we are going to get it up to US$200 plus billion in plants in America," Lutnick said, without providing any evidence backing his belief.
TSMC initially pledged US$65 billion in investment in three advanced semiconductor fabs in Arizona under the CHIPS Act.
The first of the three plants has started mass production while the other two are at different stages of construction.
Earlier this year, TSMC pledged another US$100 billion in investment in the complex for three more semiconductor fabs, two advanced packaging facilities and an R&D center, though work does not appear to have begun on any of those projects.
Lutnick argued on CNBC that Trump opposes using government funds as giveaways.
"This concept of the government just being a giveaway of your tax dollars, Donald Trump just doesn't stand for it. He wants the American people to get the benefit of the bargain. And that seems perfectly reasonable if you think about it," he said.
Left unsaid by Lutnick was that Trump has preferred to use sticks rather than carrots to lure investment, including setting high tariffs on goods imported from overseas that have had their own negative effects, including acting as taxes on American importers and consumers.
U.S. corporate bankruptcies are approaching a 15-year high, with small businesses particularly affected in part due to the Trump tariffs, economists have said.
TSMC's U.S. investment could top US$200 billion: Lutnick - Focus Taiwan
U.S. Commerce Secretary Howard Lutnick said Thursday he believes Taiwan Semiconductor Manufacturing Co. (TSMC) could boost its American investment to more than US$200 billion and created 30,000 jobs in the process.
focustaiwan.tw