WASHINGTON/PALO ALTO, California — U.S. President Donald Trump called for the cancellation of the $52 billion CHIPS Act, one of predecessor Joe Biden’s signature tech policies, in his first address to Congress of his second term on Tuesday night.
The president cited recent examples of multinational tech companies such as Japan’s SoftBank and Taiwan Semiconductor Manufacturing Co. (TSMC) announcing new investment in the U.S., saying that companies will come without the need to offer billions of dollars in subsidies to lure them.
