Chip giant TSMC plans to spend $100bn to expand US chip manufacturing
Al JazeeraMAR 12
TSMC Pledges $100B for US Chip Plants
Above: US Pres. Donald Trump (C) holds a press conference in the White House Roosevelt Room with TSMC CEO CC Wei (L) to announce that Taiwan Semiconductor Manufacturing Company (TSMC) plans to invest $100B in new manufacturing facilities in the US. Image copyright: Annabelle Gordon/Contributor/The Washington Post via Getty Images
The Spin
Republican narrative
Donald Trump is not only outproducing Joe Biden, but he's bringing America back to its manufacturing golden age. Even before this TSMC deal, Trump secured hundreds of billions of dollars in pledges from Nippon Steal, Honda, and the Saudi government, among others. The old America Last regime is over, watching from the sidelines as Trump returns jobs to Americans that were once shipped overseas.
Democratic narrative
Trump is flashing big numbers in front of his supporters to hide the fact that his other policies will nullify any investment pledges he secures. His tariffs on America's greatest import partners will destroy hundreds of billions of dollars in annual revenue. As for artificial intelligence (AI), which is the focus of chip manufacturing, his deregulation of safety protocols will end up allowing AI to take jobs from American workers. Contrary to his slogan, Trump is America Last.