Trump Calls for End to $52 Billion Chips Act Subsidy Program
Posted: Mar 05, 2025
- President Trump wants to end the bipartisan $52 billion semiconductor subsidy program.
- The program attracted $400 billion in investments from companies like Taiwan Semiconductor Manufacturing Co. and Intel Corp.
- The Chips Act aimed to reduce reliance on Asia for electronic components.
- Trump prefers tariffs over incentives, signaling import levies on chips.
- The withdrawal of the program faces opposition from officials on both sides of the aisle.
- Final details on existing contracts and funding support for companies like TSMC remain unclear.
- President Trump wants to end a $52 billion semiconductor subsidy program
- Program has prompted over $400 billion in investments from companies like Taiwan Semiconductor Manufacturing Co. and Intel Corp.
- Trump called the Chips Act a "horrible, horrible thing" and urged Congress to eliminate it
- He suggested using the leftover funds to reduce debt or for other purposes
What do people on Reddit think?
🚨 Reddit sentiment: negative - Most comments express concern and skepticism about the decision to end the subsidy program, suggesting it may harm economic and manufacturing initiatives. Summarized comments: - Concerns raised about ending investments in innovative fields like chip manufacturing, which are targeted by the subsidy program - Claims that dismantling subsidy initiatives could harm American manufacturing and GDP - Criticism over the suggestion to replace subsidy programs with tariffs - Commentary on Trump’s decision framed as being politically motivated rather than economically sound - Fear that removing subsidies could lead to economic downturns as they have mitigated recession risks - Overall sentiment perceives the proposal as counterproductive to U.S. economic interests
Stay ahead of the market with AI stock alerts & AI summaries of the latest earnings, stock ideas for free with Fluid Bot. Sign up now!