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Japan to invest up to USD21bn in two US chip factories to be run by GlobalFoundries
NEW YORK: Japan will invest up to USD21 billion in two chip factories in New York state that will be jointly owned by the US government and Japanese interests and operated by GlobalFoundries, the company said on Wednesday. The move is part of a deal for Japan to invest USD550 billion in the US struck by President Donald Trump’s administration last year in return for the US lowering tariffs on Japanese cars and other imports from at least 25 percent to 15 percent. The US will take a stake in the new chip factories, but Japan will provide all of the investment capital, GlobalFoundries said. The ...
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