During a recent address to Congress, President Trump criticized the CHIPS Act, previously viewed as a unifying bipartisan effort to boost U.S. semiconductor manufacturing. By calling it a "horrible" initiative, Trump has sparked confusion among lawmakers who were assured of continued support from the administration. The CHIPS Act aims to allocate $50 billion to enhance the semiconductor industry, vital for technologies across various sectors. Following Trump's remarks, concerned chip executives are consulting lawyers regarding the potential impact on established contracts, prompting Senator Todd Young to seek clarification from the White House.
President Trump unexpectedly criticized the CHIPS Act during his address to Congress, calling it a "horrible, horrible thing" and suggesting its repeal.
Both parties worked collaboratively on the CHIPS Act to strengthen U.S. semiconductor production—essential for numerous technologies, including cars and computers.
Senator Todd Young, who supported the CHIPS Act, expressed his concern over Trump's criticism, highlighting the tension it created with prior administration support.
Executives from chip companies are now seeking legal advice to understand the implications of Trump's remarks on the contracts related to the CHIPS funding.
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