Washington, October 15, 2026 (Yes Punjab News)
US President Donald Trump has claimed that the United States could account for half of global semiconductor production following major investments by Taiwan’s TSMC in Arizona, while asserting that pharmaceutical companies are shifting manufacturing back to America from countries including Ireland, China and Britain.
Addressing a midterm election rally in Bullhead City, Arizona, on Wednesday, Trump credited his administration with securing investments in semiconductor manufacturing and expanding domestic industrial capacity.
“I’m the one that got the great Taiwanese, Taiwan, Taiwanese company TSMC… It’s $265 billion,” Trump said, referring to the company’s investment plans in Arizona.
“I think we’ll have 50 per cent of the world’s chips. Right now we have 0 per cent,” he added, without providing supporting production figures. He also said construction linked to the project was employing more than 6,000 people.
Trump highlighted plans by US chipmaker GlobalFoundries to invest $21 billion in two semiconductor factories in upstate New York. He also referred to a deal involving Intel, claiming it had generated a $72 billion profit, and cited “$10 billion on TikTok”, without explaining how the figures were calculated or distinguishing announced commitments from realised financial returns.
On pharmaceuticals, Trump said major drugmakers were preparing to expand manufacturing in the United States.
“Eli Lilly just announced they’re coming in with many medical plants, Merck, Pfizer. All of our drug business is coming back,” he said, adding that production currently based in Ireland, China and the UK was returning to America.
Trump also claimed his most-favoured-nation drug pricing policy had sharply reduced medicine costs, predicting price cuts of 50 to 80 per cent. He did not provide data to substantiate the reductions.
The President further cited $21.2 trillion in investment commitments to the US, a 50 per cent tariff on copper and the Resolution Copper mine in Arizona, which he said would create 3,700 jobs.
The remarks have implications for India’s semiconductor and pharmaceutical sectors, both of which are seeking to expand their presence in global supply chains.
India is developing its domestic chip industry through the India Semiconductor Mission, which has approved semiconductor fabrication and chip-assembly projects. It is also a major supplier of generic medicines to the US market.
Trump named Ireland, China and Britain as countries from which pharmaceutical manufacturing was returning but did not mention India. Any substantial shift in US drug production could be closely watched by Indian exporters, while efforts to localise semiconductor manufacturing could influence global investment decisions.
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