As the US struggles with affordability, consumer confidence eludes China
While many have soured on globalisation, protectionism has also failed to guarantee people’s desire for affordability and financial security
That stance came months after Trump revived the threat of sweeping tariffs, declared “Liberation Day” and vowed to restore factories to American soil. The vision was intoxicating: new plants rising, assembly lines humming and blue-collar workers reclaiming dignity amid the roar of machines – “Made in America”, reborn.
But the first global heavyweight to truly test that promise, Taiwan Semiconductor Manufacturing Company (TSMC), has found the reality far less romantic. In the desert north of Phoenix, Arizona, TSMC is building a vast manufacturing complex larger than New York’s Central Park. Heat and aridity are only part of the challenge. More daunting is the maze of unfamiliar rules and approvals.