Donald Trump has expressed intentions to terminate the CHIPS and Science Act, a bipartisan $280 billion legislation designed to enhance US semiconductor manufacturing and research. He criticized the $52.7 billion in subsidies allocated to firms, arguing it leads to inefficient spending. Instead, he suggests imposing tariffs on semiconductor imports as a punitive measure. The CHIPS Act has already facilitated substantial private investments in the industry, and if Trump's efforts to repeal it succeed, the progress made in semiconductor innovation and production may significantly stall, raising concerns among officials about the future of this vital sector.
Trump further criticized the CHIPS Act, stating it's "a horrible, horrible thing" that gives away "hundreds of billions of dollars" in subsidies to companies that misuse funding.
The CHIPS Act, intended as a key part of Biden's agenda, has already facilitated $450 billion in private investments to boost semiconductor production across the United States.
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