Trump to make investment announcement as he meets with CEO of Taiwan giant chipmaker TSMC

WASHINGTON (AP) - President Donald Trump is due to announce Monday that chip giant Taiwan Semiconductor Manufacturing Co. plans to invest $100 billion in the United States, according to a person familiar with the plans who was not authorized to speak publicly.

TSMC, the world's biggest semiconductor manufacturer, produces chips for companies including Apple, Intel and Nvidia. The company had already announced plans to invest more than $65 billion in the U.S., including three plants in Arizona after the Biden administration offered billions in subsidies. Its first factory in Arizona has started mass production of its 4-nanometer chips.

It was not immediately clear if the $100 billion includes the $65 billion that was already announced. TSMC confirmed its chief executive officer plans to meet with Trump on Monday but did not offer details.

Last month, the company held its board meeting for the first time in the United States but did not make any announcement for expanded investment, as speculated.

The White House did not immediately return a message seeking comment.

Former President Joe Biden in 2022 signed a sweeping $280 billion law, the CHIPS and Science Act, to try to reinvigorate chip manufacturing in the U.S., especially after the COVID-19 pandemic.

During the pandemic, chip factories, especially those overseas making the majority of processors, shut down. It had a ripple effect that led to wider problems, such as automobile factory assembly lines shutting down and fueled inflation.

Trump has criticized the law and taken a different approach, instead threatening to impose high tariffs on imported chips to bring chip manufacturing back to the U.S.

Trump also has said companies like TSMC do not need federal tax incentives.

Trump has hosted multiple business leaders at the White House since he took office in January to tout a series of investments that aim to demonstrate his leadership is a boon for the U.S. economy.

In January, he appeared with the heads of OpenAI, Oracle and SoftBank at the White House as they announced plans for a new partnership to invest up to $500 billion for infrastructure tied to artificial intelligence. He also announced in January a $20 billion investment by DAMAC Properties in the United Arab Emirates to build data centers tied to AI.

Last week, after Apple CEO Tim Cook met with Trump at the White House, the company announced plans to invest more than $500 billion in the U.S. over the next four years, including plans for a new server factory in Texas. Trump said after their meeting that Cook promised him Apple’s manufacturing would shift from Mexico to the U.S.

The Wall Street Journal first reported the planned announcement Monday.