Japan to invest up to $21 billion in two U.S. chip factories to be run by GlobalFoundries

New York – Japan will invest up to $21 billion in two chip factories in New York state that will be jointly owned by the U.S. government and Japanese interests and operated by GlobalFoundries, the company said on Wednesday. The move is part of a deal for Japan to invest $550 billion in the U.S. struck by President Donald Trump’s administration last year in return for the U.S. lowering tariffs on Japanese cars and other imports from at least 25% to 15%. The U.S. will take a stake in the new chip factories, but Japan will provide all of the investment capital, GlobalFoundries said.