United Microelectronics Corp. (UMC), Taiwan’s second-largest chipmaker, has no plans to set up a production site in the United States.

This statement follows reports suggesting that the company might face pressure to invest in the US semiconductor market under the incoming administration of President-elect Donald Trump.

The company reaffirmed its commitment to a collaboration with Intel Corp., announced earlier this year.

This project seeks to develop a 12-nanometer semiconductor process platform, with production set to begin at Intel’s facility in Arizona by 2027.