US President Donald Trump said Taiwan Semiconductor Manufacturing Company is investing an additional 100 billion dollars in the United States. He said the giant chipmaker will build state-of-the-art facilities to "boost America's dominance in artificial intelligence and beyond."

Trump made the announcement with CEO C.C. Wei at the White House on Monday. He described semiconductors as "the backbone of the 21st century economy."

Trump said semiconductors are essential to powering everything from AI to automobiles to advanced manufacturing. He added, "We must be able to build the chips and semiconductors that we need right here and American factories with American skill and American labor."

He said the world's largest contract chipmaker plans to make the major investment over the next four years. It supplies semiconductors to Nvidia, Apple, and other US clients.

TSMC announced a 65-billion-dollar investment last April for manufacturing operations in Arizona. The additional move comes as Trump threatens to impose tariffs on chip imports.

Following up on Trump's comments, Commerce Secretary Howard Lutnick urged manufacturers to come to the US. He said one reason for TSMC's expanded investment is: "The fact they can come here because they can avoid paying tariffs. So the idea is come to America, build greatness in America."

Trump has repeatedly criticized Taiwan for hurting the domestic chip-making industry.