A plan has been announced for Japan to provide approximately ¥3.3 trillion and build two new semiconductor plants in New York State as part of its investment in the US. Total costs could reach $21 billion and will be funded by Japan.
GlobalFoundries has announced plans to build two new semiconductor manufacturing plants in New York State. The total investment could reach $21 billion and will come from Japan.
The investment in the US is said to form part of a framework under which Japan will invest approximately $550 billion (equivalent to ¥87 trillion) in exchange for the US and Japan reducing tariffs from 25% to 15%. The move is expected to strengthen cooperation in the high-tech sector.
President Trump posted a comment on social media welcoming the additional $21 billion investment and emphasized Japan's funding as an achievement of his policies.
GlobalFoundries said it expects the project to help secure jobs and strengthen the supply chain.