TSMC's Wei one of 'most respected' people in business: Trump

Washington, March 16 (CNA) U.S. President Donald Trump said Sunday that C.C. Wei (魏哲家), chairman of Taiwan Semiconductor Manufacturing Co. (TSMC), is one of the "most respected" persons in the business world and is fully aware that his company should make large investments in the United States to avoid tariffs.

The U.S.' current tariff polices will allow the American public to see "immediate" benefits, and TSMC has pledged to invest billions in the U.S. to avoid tariff on its products, Trump said in an interview with conservative TV host Sharyl Attkisson on her program Full Measure.

"So you have the biggest chipmaker in the world coming in with US$200 billion," Trump said, "Mr. Wei, one of the most respected people in business ... he's coming in, he's spending hundreds of billions of dollars, and he'll be spending it largely in Arizona."

Trump said his tariffs threats have prompted many companies to bring large amounts of money into the U.S. to build plants, which will need contractors, subcontractors, concrete and steel suppliers and will provide more benefits down the road as job openings increase.

The investment figure cited by Trump in the Full Measure interview was at odds with the amount announced earlier for the expected new investment in the U.S. by TSMC.

On March 3, during a visit to the White House by Wei, Trump said TSMC would invest an additional US$100 billion over the next few years to expand its semiconductor manufacturing operations in the U.S.

Wei has said that the US$100 billion will be spent to build three new wafer fabs, two advanced IC packaging plants, and a research and development center in the state of Arizona.

TSMC has already invested US$65 billion in three wafer fabs in Arizona, and the additional US$100 billion that was announced will push up the company's total investments in the U.S. to US$165 billion.

The expanded investment is expected to support 40,000 construction jobs over the next four years and drive more than US$200 billion of indirect economic output in Arizona and across the U.S. in the next decade, according TSMC, the world's largest chipmaker.

The announcement of higher TSMC investments came amid threats by Trump to impose tariffs on semiconductors, which was seen as likely to include those from Taiwan.

Trump has said that alongside the tariffs, his administration will seek to build the semiconductor industry in the U.S. so that the country will become some self-sufficient in that area.

According to TechSpot website, however, the U.S. and many Western countries are not as efficient as Taiwan when it comes to building semiconductor fabs.

"Building semiconductor plants in the U.S. takes twice as long, costs twice as much as in Taiwan," the U.S.-based website said in February.

The West will have to streamline its fab construction processes to catch up with the semiconductor ecosystems in Taiwan and other Asian manufacturing hubs, it said.

The report also said that TSMC has been facing some challenges with its fabs in the U.S., as it has "struggled to find skilled workers locally, a problem rarely encountered in Taiwan."

"Cultural differences between TSMC's Taiwanese management and American employees created unforeseen obstacles," TechSpot said. "Perhaps most critically, navigating local regulations proved difficult for the global chip manufacturer."