Washington: U.S. Commerce Secretary Howard Lutnick stated Thursday that Taiwan Semiconductor Manufacturing Co. (TSMC) could potentially increase its investment in the United States to more than US$200 billion, creating approximately 30,000 jobs in the process.
According to Focus Taiwan, Lutnick expressed his views during a CNBC interview, where he criticized the CHIPS Act for its generous subsidies to chipmakers. He noted the Biden administration's decision to allocate US$11 billion to Intel, likening it to a "shareholder Christmas card." Lutnick highlighted that the Trump administration converted these existing grants from the CHIPS Act into equity in Intel.
Lutnick also critiqued the US$6 billion provided to TSMC to support its US$60 billion investment in constructing plants in the United States. He suggested that despite the initial investment, TSMC's commitment could increase to US$200 billion, although he did not provide concrete evidence to support this claim.
TSMC initially committed US$65 billion to develop three advanced semiconductor fabs in Arizona under the CHIPS Act. The first plant has commenced mass production, while the other two are under construction. Earlier this year, TSMC announced an additional US$100 billion investment for three more semiconductor fabs, two advanced packaging facilities, and a research and development center, though these projects have not yet begun.
During the interview, Lutnick conveyed that Trump opposes using government funds as giveaways, emphasizing that Trump prioritizes ensuring that American taxpayers receive value in return. He noted that Trump's approach aims to benefit the American people by using tariffs on imports as a strategy to encourage domestic investment. However, these tariffs have also impacted U.S. importers and consumers, contributing to a rise in corporate bankruptcies, particularly among small businesses.