Lates News

U.S. President Trump announced that GlobalFoundries will invest $21 billion in Malta, New York, to build two large-scale semiconductor manufacturing facilities, with funding to be provided by Japan under a previously reached trade agreement. The project is expected to create 27,000 construction and supply chain jobs, as well as more than 1,000 high-skilled manufacturing jobs. Trump also announced that the U.S. government will receive an equity stake in GlobalFoundries, and that the Department of Commerce will invest an additional $955 million in silicon photonics, silicon germanium, and advanced packaging, bringing cumulative investment to $1.63 billion. The government's stake is currently said to be worth more than $2 billion. On energy, Trump announced the launch of the Alaska LNG project, calling it the largest energy infrastructure project in Alaska's history. Under previously reached trade and investment agreements, South Korea will invest $50 billion in the project. Trump said the project has become a U.S. federal government project, and that all necessary permits and authorizations have been obtained, allowing it to proceed immediately.