If the two sides can agree on the details, a deal could be announced as soon as Friday, two sources have said

Taiwan’s Economy Ministry said that while Foxconn had breached regulations, there was no concern about an ‘outflow of technology’

A dominant player in the global chip industry, the country hopes the incentives would help it cement the security of its supply-chain security while boosting the economy

Demand for TSMC's 3-nanometre chip is "very strong", driven by new technologies including 5G and high-performance computing products, TSMC Chairman Mark Liu said

Taiwan assessed China had staged the military "provocation" to express anger at a new US defence authorisation law

The Taiwanese company is already building a $8.6 billion chip facility in the country as part of efforts to diversify its production base

The new plant in Dresden – TSMC's first in Europe – will capitalise on booming demand from Germany's car sector, Nikkei said

Taiwan's export orders often arrive two to three months ahead of actual exports as a leading sign of demand for high-tech goods and Asian exports

The move followed pushback from trade groups like the US Chamber of Commerce which argued the measures would not further US national security

TSMC announced on Tuesday it would more than triple its planned investment at its Arizona plant to $40 billion

The US President's visit follows the Taiwanese chipmaker’s move to more than triple its planned investment in the factory to $40 billion

It is imperative for the island to remain competitive as countries including the United States, Japan and South Korea offer billions to bolster their chip industries, the economy ministry said