The Biden administration's agreement to award TSMC up to $6.6 billion in grants signifies a historic investment in U.S. chip manufacturing aimed at reducing foreign reliance.
Mr. Biden emphasized that this foreign direct investment represents the largest for a new factory project in U.S. history, reflecting a pivotal milestone in his chips program.
As part of a $39 billion initiative, the administration is not only focused on bolstering American manufacturing but also on ensuring long-term benefits across communities.
Despite the significance of these agreements for U.S. tech manufacturing, many projects may not bear fruit until well into the next presidential term.
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