Biden announces another huge deal with Taiwan-based semiconductor manufacturer; how will it benefit US?

US President Joe Biden announced a multi-million-dollar deal with a Taiwan-based semiconductor manufacturer, TMSC, to bolster America’s chip manufacturing. Amid escalating tension between China and the US, President Joe Biden announced a multi-million-dollar deal with a Taiwan-based semiconductor manufacturer to bolster America’s chip manufacturing. Taiwan chip giant, which is headquartered in Hsinchu, will support the construction of facilities across the United States, including one in Arizona. The preliminary agreement between the TMSC and the US Commerce Department is based on a crucial investment law called the Chips and Science Act. TSMC has decided to construct a third semiconductor plant in Arizona, bringing its total investment in the country to $65 billion.