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Trump Once Said Taiwan Took '100% Of Our Chip Business,' But TSMC Confident Of Support For Arizona Plants Under Incoming President

Kaustubh Bagalkote
January 19, 2025

Taiwan Semiconductor Manufacturing Co. (NYSE:TSM) expects continued U.S. government support for its Arizona chip plants under President-elect Donald Trump‘s administration, despite his previous criticism of Taiwan’s semiconductor industry.

What Happened: TSMC CFO Wendell Huang said the company has already received its first $1.5 billion installment of the promised $6.6 billion in CHIPS Act funding during the fourth quarter of 2024, in a CNBC interview. The funds are part of the President Joe Biden administration’s $53 billion initiative to strengthen domestic semiconductor manufacturing.

“As a matter of fact, in the fourth quarter, we already received the first batch of government support,” Huang said, noting that future funding would be distributed as construction and production milestones are met.

The company’s confidence comes despite Trump’s campaign rhetoric accusing Taiwan of “stealing” U.S. chip business and criticizing the CHIPS Act’s cost. Industry experts anticipate the program will largely continue under Trump due to strong bipartisan support for domestic semiconductor production.

TSMC’s Arizona investment, totaling over $65 billion across three facilities, represents a crucial piece of U.S. efforts to secure domestic chip manufacturing capabilities. The company’s first Arizona fab began producing advanced chips in the fourth quarter of 2024 following some delays, with a second facility expected to start operations in 2028.

See Also: Elon Musk’s DOGE Co-Lead Vivek Ramaswamy Expected To Exit Trump Admin Task Force Amid Ohio Governorship Bid

What Happened: CEO C.C. Wei emphasized TSMC’s “long-standing and good relationship” with U.S. authorities during the company’s recent earnings call, where it reported record fourth-quarter profits driven by strong AI chip demand. While choosing to maintain a low profile by skipping Trump’s inauguration, Wei assured investors of “frank and open communication” with both current and future administrations.

The semiconductor giant faces some challenges in its U.S. expansion, including longer construction timelines due to regulatory requirements and skilled labor shortages. However, Wei expressed confidence in eventually achieving the same quality standards in Arizona as in Taiwan.

This development comes as TSMC projects its AI-related revenue to double in 2025, following a tripling in 2024, underlining the strategic importance of its U.S. operations in meeting growing advanced chip demand.

In July, Trump indicated that Taiwan should bear the cost of its defense. "I know the people very well, respect them greatly. They did take about 100% of our chip business. I think, Taiwan should pay us for defense," he said.

Read Next:

  • Trump Coin Tanks 36%, Even As Melania Trump Launches Her Own Token: Top Analyst Says His Short Is ‘Going Very, Very Well’

Image Via Shutterstock

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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