President Donald Trump highlighted substantial investments in energy and semiconductor sectors as part of his economic initiatives. He announced these developments just before a midterm rally in Arizona, addressing ongoing voter concerns about rising living costs.
Trump disclosed that Taiwan planned to purchase $70 billion to $80 billion worth of liquefied natural gas (LNG) from the proposed Alaska LNG project over two decades. Taiwan also intends to invest up to $4.4 billion in the project’s development. Additionally, Trump shared details of a $21 billion investment from semiconductor manufacturer GlobalFoundries, which involves building two manufacturing facilities in Malta, New York. This project will be funded with capital from Japan.
These announcements align with the president’s trade policies focused on bringing substantial projects and jobs to the United States. Trump’s announcements followed a series of polls indicating widespread voter dissatisfaction with the cost of living. An Associated Press-NORC poll revealed that only 17 percent of U.S. adults approved of Trump’s handling of living costs. Another poll by Reuters/Ipsos showed that 78 percent of Americans blamed Trump administration policies for escalating prices, including tariffs and tensions with Iran.
Frustrations grew further as the Labor Department reported an increase in inflation in September, with consumer prices rising 0.6 percent from August and 3.7 percent compared to the previous year. Core inflation, excluding volatile food and energy prices, rose 0.3 percent month-over-month and 2.6 percent annually. Gasoline prices also jumped 9.1 percent in September, significantly contributing to the overall monthly increase.
Trump views the foreign investments as a testament to the success of his policies, which aim to create jobs in the U.S. He stated that Taiwan’s LNG commitment represents about 30 percent of the project’s output over the next 20 years. Taiwan’s Ministry of Economic Affairs confirmed that state-owned CPC Corp. plans to purchase 6 million metric tons of LNG annually. The ministry noted that specific investment terms are still under negotiation.
Regarding the semiconductor sector, Trump announced that the GlobalFoundries investment would generate about 27,000 construction and supply-chain jobs. Additionally, it would create more than 1,000 highly skilled manufacturing jobs in New York. These jobs are tied to two planned semiconductor manufacturing sites in Malta.
Trump praised the Alaska LNG project as “the GREATEST Project in Alaska History,” attributing its success to his presidency. He described the New York investment as an “ALL-AROUND HUGE WIN FOR AMERICA.” Trump portrayed himself as a “great Businessman President” responsible for “the Greatest Economy in the World.”