Biden administration will provide approximately 1 trillion yen in subsidies for the construction of TSMC's state-of-the-art factory in the US. In March, the Biden administration announced that it would also provide up to $8.5 billion in subsidies to semiconductor manufacturer Intel.
As President Biden seeks re-election in the autumn presidential election, he is expected to aim to strengthen the supply chain for cutting-edge semiconductors to compete with China, as well as to promote support for the domestic manufacturing industry and job creation.