Trump and TSMC announce $100 billion plan to build five new US factories

WASHINGTON, March 3 (Reuters) - Taiwan semiconductor company TSMC plans to make a fresh $100 billion investment in the United States that involves building five additional chip facilities there in coming years, its CEO announced with President Donald Trump on Monday.

Taiwan's dominant position as a maker of chips used in technology from cellphones and cars to fighter jets has sparked concerns of over-reliance on the island, especially as China ramps up pressure to assert its sovereignty claims.