Japan will invest up to $21 billion to build two chip factories in New York state under a trade agreement with U.S. President Donald Trump’s administration, as Washington seeks to expand domestic semiconductor production.
They will be jointly owned by the U.S. government and Japanese interests and operated by GlobalFoundries, the company said on Oct. 14.
Construction of the first factory is scheduled to begin this year, with chip production expected in 2029. GlobalFoundries executives said the partners will decide whether to build the second factory before the end of 2028.
The initiative was part of a deal struck by the Trump administration last year for Japan to invest $550 billion in the United States. In return, the United States lowered its import tariff rate on Japanese cars and other imports from a threatened 25 percent to 15 percent….
Japan Invests $21 Billion to Build 2 Chip Factories in New York Under Trump Trade Deal
