Washington [US], July 11 (ANI): US President Donald Trump on Saturday said Micron Technology is accelerating its US manufacturing plans and increasing investment to $250 billion, calling it a direct result of his administration's policies on deregulation and supply chains.

In a post on Truth Social, Trump highlighted the Micron announcement as part of a broader push to bring semiconductor production back to the United States.

'Last week, I shared with President Trump that, because of his leadership and policies, Micron would announce today that we are ahead of schedule and increasing our U.S. manufacturing and R&D investment from $200 billion to $250 billion--creating 100,000 American jobs,' Trump quoted Micron's leadership as saying.

The president said he joined the announcement in New York alongside Commerce Secretary Howard Lutnick, Small Business Administrator Kelly Loeffler, and White House Chief Technology Officer Dr. Ethan Klein.

'It's another example of the Trump effect driving historic private-sector investment, American manufacturing, and job creation,' Trump wrote.

According to the post, the $250 billion commitment will focus on memory chips and related R&D, with the goal of building capacity 'right here in the U.S.A.' Trump said the expanded spending will mean 'thousands of great jobs for hardworking patriots all across our country' and will help 'secure our supply chains.'

Trump used the announcement to criticize previous administrations, arguing that 'for years, the Do Nothing Democrats bogged down American industry with crushing red tape, complete economic mismanagement, and ridiculous woke mandates. They stalled everything. Not anymore!' He said his administration is 'slashing the radical left's job killing regulations, and actually getting shovels in the ground.'

The president framed the investment as central to his economic agenda. 'We are reshoring manufacturing to America, and securing our supply chains. True economic security is made in America,' he wrote.

Memory chips are a critical component in data centers, smartphones, AI systems, and defense equipment. The Biden administration had also prioritized domestic chip manufacturing through the CHIPS and Science Act, but Trump said the new Micron commitment reflects momentum under his current policies.

Micron has not yet released additional details on site locations or timelines beyond what was referenced in the White House event. The company previously announced a $200 billion US investment plan in 2022. (ANI)