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Trump Believes TSMC Is A “trustworthy” Company
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The US president has been quite vocal about TSMC ever since he and the company’s CEO jointly announced a $100 billion chip manufacturing investment package. For the uninitiated, this is the package through which TSMC would build more chip facilities in the US. Now, Wccftech reports that Taiwanese press outlets suggest TSMC has yet to submit its details to the Taiwanese government for the package’s approval. Despite that, Trump believes that TSMC is trustworthy and will live up to its word.
Trump says TSMC is trustworthy, as he is positive about the $100 billion investment
Speaking with Time Magazine, Trump praised his tariff strategy. He said it would ensure that American and foreign companies with overseas manufacturing operations to shift to the US. Trump further cited NVIDIA while lauding his tariff strategy. For the uninitiated, NVIDIA recently announced investing $500 billion in the US over four years to build AI data centers.
When Trump cited TSMC’s CEO, the interviewer questioned if he finds him trustworthy and was confident about funds flowing to the US. In response, Trump replied, “I’ll tell you why I trust them. First of all, I think they’re trustworthy people. But more importantly, they have no choice, because they won’t be able to pay the tariffs if they don’t do it.” Despite TSMC announcing a 30 percent hike for its chips manufactured in the US, it hasn’t lost customers.
The President initially also threatened TSMC with a 100% tax
Although Trump finds TSMC trustworthy, he initially threatened TSMC with a 100 percent tax. The tax would have been applicable if it had failed to expand its manufacturing to the US. Speaking about it in a political event, Trump said, “All I did is say, If you don’t build your plant here, you are going to pay a big tax. Twenty-five, maybe 50, maybe 75, maybe 100%.”
Not to forget, TSMC has been among the headlines, even before Trump praised it as a trustworthy company. The chip manufacturer recently unveiled its 1.4nm process. It has also confirmed to begin mass-producing 2nm chips, starting in the second half of 2025. Moreover, a report from earlier this month also silenced rumors about TSMC and Intel forming a joint venture.
