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President Biden Shortly Due To Deliver Remarks From TSMC Plant In Arizona

US

US President Joe Biden will shortly deliver remarks from the proposed site of a new Taiwan Semiconductor Manufacturing Company facility in Phoenix, Arizona.

  • Livestream: https://www.whitehouse.gov/live/
  • TSMC is the world's largest high end manufacturer of semiconductors and plans to announce a USD$40 billion expansion of operations in Arizona.
  • NYT: "The expansion is so significant that an event on Tuesday to celebrate the move is expected to draw President Biden and Tim Cook, Apple’s chief executive, as well as other companies and government officials."
  • Biden is expected to use remarks to highlight how Democrat legislation, including the CHIPS and Science Act, can create a world-leading domestic semiconductor industry.
  • White House National Economic Council director Brian Deese previewed the event by saying that Biden's industrial strategy is a “marked departure from the economic philosophy that has governed for much of the last 40 years.”
  • Deese: “What you’re seeing is now a dedicated industrial strategy laying the foundation to crowd in private investment . . . at historic scale."
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