The Trump Administration is close to completing a trade deal with Taiwan that would see increased investments from Taiwan Semiconductor Manufacturing (TSM) in the US, The New York Times reported Monday, citing people familiar with the matter.

A timeline for the investments was not provided, according to the report.

As part of the deal, Taiwan Semiconductor will nearly double the number of its plants in Arizona by building at least five more semiconductor facilities, the NYT reported, citing one of the people.

The agreement will reduce the US tariff rate to 15% on Taiwan's exports, the people reportedly said.

Spokespersons from the US Department of Commerce and Taiwan Semiconductor did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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