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US Commerce Sec.: TSMC Violates DEI Clause, Invests Extra US$100B as 'Atonement'
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US Commerce Secretary Howard Lutnick recently revealed that TSMC (TSM.US) ramped up its investment in the US by US$100 billion last March due to a violation of the "Diversity, Equity, and Inclusion" (DEI) clause. According to regulations, TSMC was required to hire blind, female, and transgender engineers, yet it failed to meet these requirements, which led to a violation determination by the US. The US proposed that if additional investments are made, the violation issue could be written off. Ultimately, TSMC's total investment increased from the original US$65 billion to US$165 billion. Lutnick further hinted that future investments may continue to increase, potentially surpassing US$200 billion, with specific details left for TSMC to announce. AASTOCKS Financial News Website: www.aastocks.com |
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