Chipmaker Taiwan Semiconductor Manufacturing Co's $12 billion investment in the United States will increase US economic independence from China, Secretary of State Mike Pompeo said in a statement early on Friday.
TSMC, a major supplier to Apple Inc announced on Friday it will build a $12 billion chip factory in Arizona, in what the company called a "strong partnership" with the US government. Pompeo said the investment will strengthen US- Taiwan ties.
"TSMC's announcement comes at a critical juncture, when China is competing to dominate cutting-edge technology and control critical industries. The TSMC facility in Arizona will increase US economic independence", Pompeo said on Friday.