Full Measure After Hours: Good for Business

Host: Sharyl Attkisson
Guest: Greg Jackson (TSMC Executive)
Date: October 30, 2025

Episode Overview

In this episode, Sharyl Attkisson explores the dramatic resurgence in U.S. manufacturing and investment catalyzed by the policies of the second Trump administration, referred to as the "Trump Effect." The discussion focuses especially on semiconductor production and TSMC's massive factory project in Arizona. Attkisson and guest Greg Jackson provide an in-depth look at the implications for the American economy, national security, and global supply chains.

Key Discussion Points & Insights

1. The Trump Effect & U.S. Manufacturing Investment

• Attkisson introduces the episode by highlighting a surge in U.S. manufacturing investments under President Trump’s America First economic agenda.
  • Cites $8.9 trillion in combined U.S. and foreign investments since the start of Trump’s second term (00:30).
  • Major foreign investors include UAE ($1.4T), Qatar ($1.2T), Japan ($1T), among others.
  • Significant tech sector investments are spotlighted, including Apple, Nvidia, and TSMC.

“You won't hear much reporting on this issue...because it is perceived to be something positive happening under the second Trump administration...But you could call it the Trump Effect.” – Sharyl Attkisson (00:16)

2. TSMC’s Arizona Factory – The Cutting Edge of Chip Manufacturing

• Factory Overview:
  Greg Jackson explains TSMC’s Arizona plant is designed for next-generation microchip manufacturing for use in global consumer products, from iPhones to AI processors (03:25).
• Investment Scale:
  The project started with $65B for three factories (fabs), later increasing by an additional $100B – “very massive investment” (03:44).

“It’s unprecedented...very massive investment in the state and in the United States.” – Greg Jackson (03:44)

• Location Choice:
  TSMC chose Arizona due to proximity to major U.S. customers; the decision was made in early 2020 (04:03, 04:19).

3. Drivers Behind Expansion – Customers, Security, and Policy

• Customer Demand:
  The driving force behind expanding U.S. operations is high demand from U.S.-based customers. National security is also a key factor, aligning with U.S. policy objectives (04:37).

• Government Support:
  Visits from administration officials, like the Commerce Secretary, underscore political support for revitalized American manufacturing (05:16).

“He came to demonstrate support and dedication to improving and bringing back American manufacturing back into the country.” – Greg Jackson (05:16)

4. Impact on National Security & Supply Chains

• Reducing Risk:
  Onshoring chip production means less exposure to supply chain disruptions and geopolitical risks.
  • COVID-19 highlighted vulnerabilities in global supply chains (06:41).

“Having semiconductors back in the US...reduces that risk and allows us to really fend for ourselves and be in charge of our own destiny.” – Greg Jackson (06:41)

• Broader Ecosystem Impact:
  Advanced manufacturing supports a full ecosystem of jobs, supply chains, and technology, not just chip-making (05:33).

5. The Case for Reshoring Manufacturing

• Shift in Mentality:
  COVID prompted a re-evaluation of globalization’s benefits and risks.
  • Manufacturing offshoring created new risks during disruptions (07:13).

“While there's benefits of globalization, it also creates a lot of unforeseen risks...Bringing manufacturing back to the US really helps to assist, to leverage our country.” – Greg Jackson (07:13)

• Chips in Daily Life:
  Semiconductors now power nearly every electronic device, increasing their strategic importance (07:56).

6. The Transformation of American Chip Manufacturing

• Historical Context:
  U.S. chip production had declined to 10% or less of global output; new investments are reversing this trend, especially for advanced chips (09:06).

“If you look over the years, we've dropped to somewhere around 10% or less. Chips made in the United States. Now we're bringing that back...and bringing it back in the most advanced technology.” – Greg Jackson (09:06)

7. Policy, Politics, and the TSMC Decision

• Policy Support:
  Jackson describes strong federal support (e.g., the CHIPS Act), reduced regulatory barriers, and political vision as crucial to accelerating U.S. chip manufacturing (10:40–11:11).
  • He emphasizes customer demand as the original factor behind site selection but acknowledges meaningful government assistance.

“I think the policies that have put in place are really helping to drive the construction and manufacturing here and also removing some of the roadblocks...” – Greg Jackson (11:11)

Notable Quotes & Memorable Moments

• “This factory creates next gen or advanced technology, microchips that are used within consumer products all around the world…from cell phones to tablets to even AI chips.” – Greg Jackson (03:25)
• “Having advanced semiconductors here in the US…it creates the jobs, it also creates the supply chain that allows the United States to grow and de risks us from other geopolitical issues...” – Greg Jackson (06:03)
• “Many people's houses have grown from one or two devices on a network to dozens. So everything we use in this day and age is reliant on some type of computer chip.” – Greg Jackson (07:56)
• “A lot of focus has gone into building factories and ramping the factories up here in the United States.” – Greg Jackson (10:40)

Timestamps for Key Segments

• 00:04–01:21 — Introduction to the Trump Effect and Investment Surge
• 03:18–03:40 — TSMC Factory Explained Simply
• 03:44–03:57 — Investment Size in Arizona Plant
• 04:19–04:31 — Timeline for U.S. Site Selection & Groundbreaking
• 05:16–05:27 — Commerce Secretary’s Visit and Federal Support
• 06:03–06:41 — National Security, Onshoring, and Supply Chain Risks
• 07:13–07:47 — Changing Mentality about Offshoring and Reshoring
• 09:06–09:22 — U.S. Chip Production Share & Significance of New Factories
• 10:40–11:11 — Role of Policy and Administration Support

Episode Tone & Style

Sharyl Attkisson maintains a critical, investigative tone throughout, challenging mainstream media coverage, while Greg Jackson remains technical and measured, highlighting business drivers and national interests without partisan emphasis.

Conclusion

This episode offers a detailed look at how large-scale manufacturing, business, and government policy intersect in the context of U.S. economic revitalization—specifically spotlighting the semiconductor industry as a case study. It’s essential listening for anyone interested in the economic and security implications of manufacturing policy in the U.S.