US, Taiwan Close In On Trade Deal, TSMC Pledges More Chip Plants In America: Report

The Trump administration is reportedly nearing a trade deal with Taiwan to reduce U.S. tariffs on the island while its chipmaking company, Taiwan Semiconductor Manufacturing Corporation (TSM) will commit to building more manufacturing units in America.

According to a report from The New York Times, citing three people familiar with the matter, the deal, which was being negotiated for months, would cut tariff rates on the island to 15% from the present 20%.

Taiwan's TSM will pledge to build five more semiconductor facilities at the very least in the U.S. state of Arizona under the deal, according to one person cited in the report.

American-listed shares of TSM rose 1.36% at the time of writing on Monday. 

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