Trump Attacks Bipartisan Semiconductor Law, a Key Policy Achievement for Biden
Donald Trump criticized the CHIPS and Science Act as a poor investment, advocating for tariffs instead of subsidies to boost domestic semiconductor production and reduce reliance on foreign suppliers.
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Former President Donald Trump criticized the CHIPS and Science Act during an episode of "The Joe Rogan Experience," calling it a poor investment that benefits wealthy companies. He suggested that instead of providing billions in subsidies, the government should impose tariffs to incentivize chip manufacturers to invest their own money in U.S. facilities. Trump expressed concerns about the U.S. reliance on foreign semiconductors, particularly from Taiwan, and likened the relationship to a protection racket. The CHIPS Act, signed by President Biden, aims to bolster domestic semiconductor production by allocating $39 billion in grants and tax credits. So far, over $30 billion has been promised to companies, including Intel and Taiwan Semiconductor Manufacturing Company, which is set to build a major hub in Phoenix. The Biden administration argues that the act is vital for national security and economic stability, especially highlighted during the pandemic when supply chain disruptions led to significant shortages. Critics of Trump’s remarks, including Vice President Kamala Harris's campaign, argue that his policies would undermine U.S. manufacturing jobs. Supporters of Trump, including the Republican National Committee, defend his approach as necessary for reducing dependence on foreign supply chains.
- Trump criticized the CHIPS Act as a poor investment for U.S. taxpayers.
- He suggested tariffs as a better alternative to encourage domestic semiconductor production.
- The CHIPS Act aims to reduce reliance on foreign semiconductors and strengthen national security.
- The Biden administration has allocated over $30 billion to semiconductor companies under the act.
- Trump's comments have sparked debate over the impact of his policies on U.S. manufacturing jobs.
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