President Donald Trump On Tuesday, Congress urged Congress to abolish the law on chips and its subsidies for manufacturers that create production facilities in the US, citing a new Taiwan Semiconductor Manufacturing Co., because it shows that it is unnecessary – although the firm has previously received a grant.
“The law on your chips is a terrible, terrible thing. We give hundreds of billion dollars, and that means nothing.” You have to get rid of the chips law, and all that is left, Mr. Speaker, you should use it to reduce debt. Or any other reason you want. ”
Earlier, Trump criticized the act of chips within the election, stating the Joe Rogan’s experience in October that “a chip deal is so bad.” The president criticized the departure of billions of dollars “rich companies” and suggested imposing tariffs for foreign chips, which would be the best way to transfer production to the US
Chip giant TSMC to invest $ 100 billion in production in the US
President Donald Trump has called on Congress to repeal the law on chips during his appeal to Congress. (Win McNamee/Pool/AFP via Getty Images/Getty Images)
In November, Speaker of the House of Representatives Mike Johnson, R-La.
The law passed the Congress and was signed by the law of the then President Joe Biden in 2022 in the Senate 64-33 and 243-187 in the House, although most Republicans in both houses opposed the bill.
The future of the chips acts under the Trump administrator in question
Then President Joe Biden stands at the table, next to Heling Intel Pat Gelsinger, when on March 20, 2024, they look at the chips plates by visiting the Intel Ocotillo campus in Chandler, Arizona. (Brendan Smialowski / AFP via Getty Images / Getty Images)
The law on chips provided a total of $ 53 billion Federal incentives Aimed at stimulating more internal semiconductor production, as well as research and development for advanced chips.
From this total number, $ 39 billion was allocated for the program managed by the Department of Trade, which provides financial assistance to companies that build new or expand existing semiconductor facilities.
According to the CPS program at the National Institute of Standards and Technology, the Department of Trade, as of January 23, 2025, more than $ 36 billion was awarded.
Trump says to introduce 25% tariffs on Autos, pharmaceuticals and chips
On March 20, 2024, the American flag at the Intel Ocotillo campus in Chandler, Arizona. (Cassidy Araiza / Bloomberg via Getty Images / Getty Images)
In addition to investments related to the CIPS law, the Semiconductor Industry Association noted that as of August 2024, nearly $ 450 billion was announced in private investments aimed at raising production facilities.
TSMC, which produces a large share of the most advanced chips in the world, has received a reward up to $ 6.6 billion grants from the law on chips for its semiconductor Production in Arizona.
Previously, he also announced investment totaling $ 65 billion to expand his orzone facilities before announcement of $ 100 billion for the construction of new FAB, as well as the packaging center and research center in the Fenches area.
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Trump announced last month that plans to impose Tariffs on Import semiconductors It would be “25% and above” and rise throughout the year, although he did not show if he would announce these tariffs and did not give more information.
Breck Dumas Fox Business introduced this report.
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2025-03-05 20:40:00
