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Trade war

TSMC to build $12bn cutting-edge chip plant in US

Taiwan chipmaker answers Trump's 'made in America' call with production set for 2024

TSMC says it will build a factory in Arizona to produce the world's most advanced chips. (Source photos from Reuters/TSMC)

TAIPEI/PALO ALTO, U.S. -- Taiwan Semiconductor Manufacturing Co., the world's biggest contract chipmaker, has announced it will build a $12 billion cutting-edge chip factory in the U.S. state of Arizona in a move aimed at addressing Washington's concerns over supply chains and national security.

"This project is of critical, strategic importance to a vibrant and competitive U.S. semiconductor ecosystem that enables leading U.S. companies to fabricate their cutting-edge semiconductor products within the United States and benefit from the proximity of a world-class semiconductor foundry and ecosystem," TSMC said in a statement on Friday.

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