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Story summary
- Japan will invest up to US$21 billion to build two chip factories in New York.
- The investment fulfills a US$550 billion pledge with the Trump administration for tariff relief.
- President Donald Trump selects the projects under the pledge, not the Japanese government.
- Tokyo Electron and Renesas Electronics will supply equipment and chips for the plants.
- Financing will come from Japan Bank for International Cooperation, commercial banks and Nippon Export Insurance.