Economics

Summary

Trump wants to repeal the $52.7B CHIPS and Science Act, including $39B in subsidies and $75B in loans for U.S. semiconductor manufacturing, to reduce debt.

His administration is reviewing $33B in finalized grants, including $7.86B for Intel, $6.6B for TSMC, and $6.1B for Micron.

Critics warn this could jeopardize TSMC’s $100B U.S. expansion and Micron’s 50,000-job, $100B project in New York.

The Commerce Department has already cut one-third of its subsidy staff, signaling a policy shift that could weaken U.S. chip production and national security efforts.