U.S. President Donald Trump announced on Tuesday that he warned Taiwan Semiconductor Manufacturing Company (TSMC) that it would incur a tax penalty of up to 100% if it fails to build its new factories in the United States.
“TSMC, I gave them no money … all I did was say, if you don't build your plant here, you're going to pay a big tax,” Trump said during his remarks. TSMC declined to comment on his statement.
In March, TSMC, the world's largest contract chipmaker, announced plans to invest an additional $100 billion in the United States, which would include the construction of five new chip facilities over the coming years. This move is seen as a significant boost for domestic semiconductor production.
Earlier on Tuesday, Reuters reported that TSMC could be facing a penalty exceeding $1 billion as part of a U.S. export control investigation. The probe centers on a chip produced by TSMC that was later incorporated into an AI processor used by Huawei Technologies.
Trump’s remarks underscore his administration’s broader strategy to incentivize U.S. manufacturing and reduce reliance on foreign production amid escalating trade tensions and concerns over national security. The criticism of previous administrations and strong stance on domestic industry highlight the current U.S. policy to ensure that key technology sectors remain under American control.
Residents in the Bahamas and Turks and Caicos braced on Monday as Hurricane Erin, the first of the Atlantic season, passed nearby as a Category 4 stor...
Hamas has agreed to a 60-day ceasefire proposal with Israel that would see half of the hostages in Gaza freed in exchange for the release of Palestini...
U.S. President Donald Trump said on Monday he expected Russian President Vladimir Putin to release more than 1,000 Ukrainian prisoners soon, after a t...
Canada is facing its second-worst wildfire season on record, with 7.8 million hectares already burned, and the fires could persist for weeks, accordin...
A research team led by Tsinghua University has unveiled a groundbreaking method for making organs transparent, offering the most detailed view yet of ...
Spotify projected third-quarter profit below market expectations on Tuesday, citing increased tax expenses linked to employee compensation, despite strong demand for its premium subscription services.
U.S. President Donald Trump signed his landmark “One Big, Beautiful Bill” into law on Friday, calling it a "triumph of democracy" during a Fourth of July ceremony at the White House.
U.S. Senate Republicans are pushing forward with President Donald Trump’s major tax-and-spending bill, aiming to begin debate this weekend on a sweeping measure that could reshape fiscal policy and deepen the national debt.
Azerbaijan and Poland discussed closer cooperation in digital tax reforms and innovation during a high-level meeting held on the sidelines of the IOTA General Assembly in Baku.
A powerful eruption at Japan’s Shinmoedake volcano sent an ash plume more than 3,000 metres high on Sunday morning, prompting safety warnings from authorities.
According to the German Research Centre for Geosciences (GFZ), a magnitude 5.7 earthquake struck the Oaxaca region of Mexico on Saturday.
'Superman' continued to dominate the summer box office, pulling in another $57.25 million in its second weekend, as theatres welcome a wave of blockbuster competition following a challenging few years for the film industry.
Honduras has brought back mask mandates as COVID-19 cases and a new variant surge nationwide.
International superstar Taylor Swift has revealed her 12th studio album, 'The Life of a Showgirl', during a podcast appearance with her partner, U.S. football star Travis Kelce, and his brother Jason.
Hungarian astronaut Tibor Kapu returned to Budapest on Monday to a hero's welcome after a three-week mission aboard the International Space Station, marking Hungary’s first human spaceflight in 45 years.
Burkina Faso has expelled United Nations regional coordinator Carol Flore-Smereczniak after a U.N. report alleged violations against children in the country, a government spokesperson said on Monday.
U.S. President Donald Trump said on Monday he expected Russian President Vladimir Putin to release more than 1,000 Ukrainian prisoners soon, after a trilateral meeting was set up with Ukrainian leader Volodymyr Zelenskyy.
Canada is facing its second-worst wildfire season on record, with 7.8 million hectares already burned, and the fires could persist for weeks, according to federal officials.
A research team led by Tsinghua University has unveiled a groundbreaking method for making organs transparent, offering the most detailed view yet of the brain’s inner workings.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment