Pompeo says TSMC's $ 12 billion investment to increase U.S. economic independence from China

ARCHIVE PHOTO: US Secretary of State Mike Pompeo talks about coronavirus disease (COVID-19) during a press conference at the State Department in Washington, USA, on May 6, 2020. REUTERS / Kevin Lamarque / Pool / File Photo

(Reuters) – Chipmaker Taiwan Semiconductor Manufacturing Co. (2330.TW) The $ 12 billion investment in the United States will increase US economic independence from China, Secretary of State Mike Pompeo said in a statement on Friday.

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TSMC, a major supplier of Apple Inc (AAPL.O), announced on Friday, 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 time, when China is competing to master cutting-edge technology and control critical sectors. TSMC's facilities in Arizona will increase US economic independence, ”Pompeo said on Friday.

Kanishka Singh reporting in Bengaluru; Editing by Shri Navaratnam

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