Last week, U.S. President Donald Trump called on Republican legislators to revoke the CHIPS and Science Act that was passed during the previous Biden administration, as he considers it a waste of taxpayers' money. Republican lawmakers were not exactly enthusiastic about the proposal, as their districts have benefited from investments already made by leading chipmakers. Also, the U.S. government remains legally obliged to distribute already allocated funds ($39 billion), so leading companies that plan to build fabs in the U.S. will get their money.
Supporting this reticence, Bloomberg recalled an earlier prediction of the Semiconductor Industry Association that the U.S. market share on the semiconductor market would have dropped below 10% if it had not been for the CHIPS and Science Act. It suggests that the Trump administration should probably think twice before revoking the law.
