00:00U.S. President Donald Trump says Taiwan's TSMC proves his tough trade policies work.
00:06Here's what he said about its chair, C.C. Wei.
00:09Mr. Wei, one of the most respected people in business, forget about chips, from Taiwan,
00:17he's coming in, he's spending hundreds of billions of dollars, and he'll be spending
00:22it largely in Arizona.
00:24But these companies are coming in at levels that people haven't seen, and they're coming
00:27in because of the tariffs, and they're coming in because of me too.
00:31TSMC recently announced plans to boost its investment in the U.S. to a total of $165
00:38billion, a sum the White House calls the largest foreign direct investment in U.S. history.
00:45Trump has threatened to impose tariffs of 25 percent or more on imported chips.
00:50His administration's tariffs on metals, cars and medicines have already raised fears over
00:55high costs and a global trade war.
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