Taiwan chip maker TSMC's $12 billion Arizona factory could give the US an edge in manufacturing

One of the world's top chip making companies is bringing more manufacturing power to the United States. Taiwan Semiconductor Manufacturing Co., or TSMC, announced on Friday that it plans to build a $12 billion semiconductor factory in Arizona, with construction to start next year. TSMC said the factory will create more than 1,600 high-tech jobs. It is expected to begin production in 2024.
The deal is a big win for the Trump administration, which has long been sounding the alarm on the semiconductor industry's reliance on producers and chip manufacturing done in Asia, calling the dependence a threat to national security. 

The TSMC deal "bolsters US national security at a time when China is trying to dominate cutting-edge tech and control critical industries," Secretary of State Mike Pompeo tweeted.

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