Trump calls for end to bipartisan US$52 billion Chips and Science Act
Former US President Donald Trump has called for the repeal of the bipartisan US$52 billion Chips Act, a subsidy program designed to boost American semiconductor manufacturing. Trump labeled the Act a "horrible thing" and urged House Speaker Mike Johnson to eliminate the legislation, suggesting that any remaining funds be used to reduce national debt.
The Chips Act, which allocated US$39 billion in grants and US$11 billion for research and development, aims to revitalize the US semiconductor industry and decrease reliance on Asian suppliers for critical electronic components. Despite bipartisan support for the Act, Trump's stance was met with applause, even as Vice President J.D. Vance, whose state benefited from the Act with a large Intel project, stood in support of its revocation.
via SCMP Full Text Feed
Former US President Donald Trump has called for the repeal of the bipartisan US$52 billion Chips Act, a subsidy program designed to boost American semiconductor manufacturing. Trump labeled the Act a "horrible thing" and urged House Speaker Mike Johnson to eliminate the legislation, suggesting that any remaining funds be used to reduce national debt.
The Chips Act, which allocated US$39 billion in grants and US$11 billion for research and development, aims to revitalize the US semiconductor industry and decrease reliance on Asian suppliers for critical electronic components. Despite bipartisan support for the Act, Trump's stance was met with applause, even as Vice President J.D. Vance, whose state benefited from the Act with a large Intel project, stood in support of its revocation.
via SCMP Full Text Feed
