During the presidential campaign, Donald Trump criticized the CHIPS and Science Act, which aims to bolster domestic semiconductor manufacturing with $52 billion in funding. He proposed shifting from federal subsidies to tariffs to encourage companies to produce in the U.S. Recently, Taiwan Semiconductor Manufacturing Co. announced a $100 billion investment in U.S. manufacturing. However, potential layoffs at the Department of Commerce and Trump’s calls for budget cuts raise concerns about the program’s future, jeopardizing billions in funding and local economies reliant on semiconductor projects. Experts suggest bipartisan congressional support might be crucial to sustain these initiatives.

Source: https://www.supplychaindive.com/news/trump-biden-chips-act-future-federal-cuts-layoffs-musk/741218/