EDS: An earlier version of this story misspelled the name of Secretary of Commerce Gina Raimondo. The error occurred in grafs 2 and 18 of the original. The story below has been corrected, but clients who used previous versions are asked to run the correction found here.
- Slug: CHIPS Biden TSMC. 645 words.
- Photos available (thumbnails, captions below).
By Phineas Hogan
Cronkite News
WASHINGTON – The Biden administration has finalized a $6.6 billion award for the Taiwan semiconductor giant that is building massive factories in Phoenix, amid concerns President-elect Donald Trump will derail subsidies aimed at fostering the domestic chip industry.
“This is a gigantic announcement,” Secretary of Commerce Gina Raimondo told reporters on a call ahead of the announcement early Friday, 10 days after Trump’s election.