Trump Calls For End of $52 Billion Chip Subsidy Program
**Trump Calls For End of $52 Billion Chip Subsidy Program**
By Qianer Liu
President Donald Trump urged lawmakers to repeal a $52 billion chip subsidy program during an address to Congress on Tuesday, while touting the $100 billion investment pledge from Taiwan Semiconductor Manufacturing Company as a better way to boost chipmaking capacity in the U.S. Trump has credited the tariff threats for securing TSMC's investments in the U.S.
"Your CHIPS Act is a horrible, horrible thing," Trump lamented, criticizing the bipartisan semiconductor subsidy program for allocating "hundreds of billions of dollars" without getting meaningful return to the U.S.
Passed with bipartisan support in 2022, the CHIPS Act designated $39 billion in grants along with loans and tax incentives to bolster semiconductor manufacturing in the U.S., with most funds already committed by the Biden administration to leading chipmakers like Intel and TSMC.
In the speech, he vowed to walk away from funding already committed by the government under the act. "We're not giving them any money," Trump said, without specifying any company.