FILE PHOTO: TSMC's logo is seen at the TSMC Museum of Innovation in Hsinchu, Taiwan, May 29, 2024. REUTERS/Ann Wang/File Photo
(Reuters) -President Donald Trump on Tuesday said he told the Taiwan Semiconductor Manufacturing Company, which has pledged to build new factories in the United States, it would pay a tax of up to 100% if it did not build its plants in the country.
Speaking at a Republican National Congressional Committee event, Trump criticized former President Joe Biden's administration for providing a $6.6 billion grant to TSMC's U.S. unit for semiconductor production in Phoenix, Arizona, saying semiconductor companies do not need the money.
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