The ARM Holdings Rene Haas CEO breaks down the impact of a speed cutting cycle and strengthens the chips on “Claim’s counting”.
President Donald Trump On Tuesday, he called on Congress to abolish the Law on Chips and its subsidies for chips manufacturers building production facilities in the United States, citing the new investment of the Taiwanese semiconductor of CO. Co., which shows that it is unnecessary – although the company has previously received chips support.
“Your chips is a terrible, terrible thing. We give hundreds of billions of dollars, which means nothing. They take our money and don’t spend it,” Trump said in his address to a joint session of the Congress. “You should get rid of the chips law, and everything left, Mr. Speaker, you should use it to reduce debt. Or any other reason you want.”
Trump has previously criticized the chips chips in the election driving, saying the “Joe Rogan Experience” podcast in October that “the chip contract is so bad”. The President criticized the sending of billions of dollars “rich companies” and suggested that the imposition of tariffs on foreign chips would be a better way to move production to the US
Chip Giant TSMC invest $ 100 billion in US production
President Donald Trump called on Congress to extinguish the chips law during addressing Congress on Tuesday. (Win McNamee/Pool/AFP via Getty Images/Getty Images)
The speaker of the house Mike Johnson, R-La, said the press in November that the Republicans “probably” try to abolish the chips, but quickly withdrew their comments and told the later statement that the legislation “was not on the agenda to abolish.”
The law adopted the Congress and was signed by the then President Joe Biden in 2022 in two-sided votes from 64-33 in Senate and 243-187 in the House, although most Republicans in both chambers contained the proposal of the Law.
The Law on the Future of Chips under Trump’s Administrator in question
President Joe Biden is behind the table, besides Intel’s Pat Gelsinger CEO, while watching Vafer Chips as they visited the Intel Ocotillo Campus in Chandler in Arizona, March 20, 2024. (Brendan Smialowski / AFP via Getty Images / Getty Images)
Law on Chips provided a total of $ 53 billion Federal incentives aimed at stimulating more domestic semiconductor production, as well as research and development for advanced chips.
Of this total number, $ 39 billion is set aside for a program operated by a trade department that provides financial assistance to companies that build new or wider existing Semiconductor institutions.
According to the Chips Office as part of the National Institute of Standards and Technology, the Department of Trade Department, more than $ 36 billion chips were awarded from January 2nd.
Trump says he will introduce 25% tariff on cars, medicines and chips
The American flag was shown at the Intel Ocotillo Campus in Chandler, Arizona on March 20, 2024. (Cassidy Araiza / Bloomberg via Getty Images / Getty Images)
In addition to investment related to chips, the Association of Penal Great Industry has noticed that since August 2024, almost $ 450 billion has been announced by private investments aimed at increasing domestic production capacities.
TSMC, which produces a large proportion of the world’s most advanced chips, has received a prize up to $ 6.6 billion in grants from the Law on Chips for its semiconductor Objects to make in Arizona.
He also announced an investment earlier in the total amount of $ 65 billion to expand his facilities in Arizona before announcing a $ 100 billion investment this week to build new Fabs, as well as an packaging facility and research center in the Phoenix area.
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Trump announced last month to plan to impose Sewer imports That would be “25% or more” and rose during the year, although he did not indicate when he would announce these tariffs and did not provide further details.
Fox Business’ Breck Dumas contributed to this report.
