TSMC Founder Morris Chang Supports US Chip Sanctions on China, Warns of Increased Costs.

Morris Chang, the founder of Taiwan Semiconductor Manufacturing Corp, warns that US efforts to shift production of processor chips from Asia to the United States will double their cost and slow the spread of their use in phones, cars and other products. The Biden administration is promising tens of billions of dollars to support construction of US chip foundries and reduce reliance on Asian suppliers, which Washington sees as a security weakness. TSMC is building an Arizona facility and plans a second for a total investment of $40 billion.