Taiwan's TSMC to build Arizona chip plant as U.S.-China tech rivalry escalates
Taiwan Semiconductor Manufacturing Co Ltd, the biggest contract chipmaker, said it plans to build a $12 billion factory in Arizona in an apparent win for the Trump administration’s efforts to wrestle global tech supply chains back from China. The plan, which will create over 1,600 jobs, comes as U.S. President Donald Trump steps up criticism of Chinese trade practices and Beijing’s handling of the novel coronavirus ahead of the Nov. 3 U.S. presidential election.