The Taiwanese chip giant TSMC’s plan to invest $100 billion in the United States has been met with anxiety and criticism in its home country.

Taiwan's President Lai Ching-te has defended Taiwan Semiconductor Manufacturing Company's (TSMC) decision to invest $100 billion in the United States, insisting at a joint news conference that the move was driven by business necessity rather than political pressure from the Trump administration.

Taiwanese semiconductor giant TSMC, the world’s largest chip manufacturer, has announced a massive $100 billion investment in the United States. The funding will be used to construct five new semiconductor fabrication plants as part of a strategic effort to reduce America’s reliance on Asian-based chip production.