TSMC Arizona Success Not a Win for CHIPS Act | National Review

“Taiwan Semiconductor Manufacturing Co. has achieved early production yields at its first plant in Arizona that surpass similar factories back home, a significant breakthrough for a US expansion project initially dogged by delays and worker strife,” Bloomberg reports.

A win for the CHIPS Act? Not so fast.

Though TSMC’s Arizona success is not a victory for the CHIPS Act, it is a victory for allowing corporations based in allied countries to invest in the U.S. economy — something politicians are currently in the process of blocking in the steel industry.

To the extent that politicians deserve any credit for TSMC’s results at this point, it is for embracing globalization, standing up to communism, and making Arizona a business-friendly state, not for passing corporate welfare. But the credit should really go to the people making the semiconductors.