Trump announces major Japanese investments in US semiconductor industry

Washington, Oct 14 (KUNA) -- U.S. President Donald Trump announced on Wednesday Japanese investments totaling $21 billion to build two new large-scale semiconductor (chip) manufacturing facilities in New York State. Trump said on Truth Social that the deal “will create 27,000 high-paying jobs in construction and supply chains, and more than 1,000 additional high-skilled manufacturing jobs in New York State.” He added, “At my direction, Japan will provide the capital for this $21 billion investment.” He continued, “We are turning investment commitments from Japan, South Korea, and Taiwan into major construction projects,” emphasizing that they are “transformative and historic deals for America, meaning more semiconductors, more energy, enhanced energy security, and more jobs for the United States.” He noted that the project, to be carried out by semiconductor manufacturer GlobalFoundries, headquartered in New York, “will give U.S. taxpayers equity stakes in the company.” He also highlighted that the Commerce Department will invest $955 million in “silicon photonics,” “silicon and germanium,” and “advanced packaging” technologies. He pointed out that, with this, “our total investments reach $63.1 billion, and the U.S. government’s share is now worth more than $2 billion.” (End) R.S.R. / H.S.S.