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Taiwan Semiconductor Manufacturing Co. pledged to invest $100 billion in the United States over the next four years, President Donald Trump announced Monday.

The announcement is the latest effort by President Trump to persuade companies to make big investments in the U.S.

In a joint announcement with the Trump Administration, TSMC pledged to spend $100 billion on chip facilities in the U.S.

Taiwan Semiconductor Manufacturing Co announced the plan in a meeting at the White House with President Donald Trump.