President Trump has levelled his heaviest criticism yet against the CHIPS act, stating that US lawmakers should get rid of it altogether. According to Reuters, the United States president told congress they should ditch the 2022 act and use whatever is left of its $52 billion in subsidies to pay debts, rather than to encourage building semiconductor factories on United States soil.
"Your CHIPS Act is a horrible, horrible thing. We give hundreds of billions of dollars and it doesn't mean a thing. They take our money and they don't spend it," went Trump's speech to Congress. "You should get rid of the CHIPS Act and whatever is left over, Mr. Speaker, you should use it to reduce debt."
