Under the preliminary agreement announced by the US on Monday, TSMC will be awarded US$6.6 billion in grants and as much as US$5 billion in loans to help the world’s top chip maker build factories in Arizona.
The chipmaker has been quick to redesign its products to pass the current restrictions, but US Commerce Secretary Gina Raimondo seems to have had enough.
The US Commerce Secretary, Gina Raimondo, is determined to stop cutting-edge AI chips from getting into China's hands and has warned companies that seek to follow the letter but not the spirit of the law.
The US Commerce Secretary said the US is closely monitoring China’s economy and that its labour force is shrinking while batting for stronger ties with India.
US Commerce Secretary Gina Raimondo called for a "stable commercial relationship" with China. During his visit to Beijing, Raimondo emphasied on boosting business ties between the world's two largest economies.