In his joint address to Congress last night, President Trump called the CHIPS and Science Act “horrible” and urged Congress to repeal the law and use any unspent funds to reduce the deficit. Citing Taiwan Semiconductor Manufacturing Company’s announcement earlier this week to spend $100 billion to build chip plants in the U.S., President Trump argued the financial incentives in the CHIPS Act are unnecessary because companies are committing to build microchip plants in the U.S. to avoid his tariffs.
