Japan will invest approximately ¥3 trillion, and US semiconductor foundry giant GlobalFoundries will build 2 new plants in New York State. The funding will be provided by Japan under the framework of the US-Japan Strategic Investment Initiative.
The Japanese government announced an investment in the US equivalent to approximately ¥3 trillion, and US semiconductor foundry giant GlobalFoundries outlined plans to build 2 new semiconductor plants in New York State. The investment is valued at $21 billion, with Japan providing the funding.
The announcement was made as President Trump promoted his economic achievements, and the construction of the GlobalFoundries plants was described as being made possible by funding provided by Japan. Government officials said the US and Japan would deepen cooperation in semiconductors, an economically and strategically important field, under the framework of the US-Japan Strategic Investment Initiative.
In a speech, President Trump criticized the Democratic Party and reiterated that a $5,000 payment would be considered if the Republican Party won. Opinion polls, however, reportedly show divided views of the Trump administration's economic record.
The investment in the US was described as the third project in which Japan would take the lead in providing funding, with the aim of strengthening cooperation between the US and Japan.