Taiwan Semiconductor Manufacturing will pour $100 billion into bolstering chip manufacturing in the U.S., President Donald Trump announced Monday.

Taiwan Semiconductor Manufacturing Co. – the world’s biggest chipmaker – will invest at least $100 billion to expand chip manufacturing in the US. During a press conference on Monday, President Donald Trump said the funding would go toward building two additional chip manufacturing facilities in Phoenix, Arizona.

Taiwan's cabinet spokesperson said on Tuesday that the government will take into account TSMC's development and Taiwan's position in the global chips industry when reviewing the chip foundry's investment plans in the United States.