The CHIPS and Science Act, a $280 billion bipartisan law signed by President Joe Biden in 2022, aimed to boost semiconductor manufacturing in the US. Despite former President Donald Trump’s criticism and desire to repeal the Act, it has already led to significant private investments. By mid-2024, the Act spurred $450 billion in private investments, increasing semiconductor production across 28 states. Biden approved $39 billion in subsidies for semiconductor firms in 2022, with over $33 billion finalized in his last weeks in office. Beneficiaries include TSMC, Micron, Intel, Nvidia, and Samsung Electronics. Trump’s potential plans include a 25 percent tariff on semiconductor imports, which could disrupt the industry. However, with $52.7 billion in subsidies already allocated, the future of these investments remains uncertain as political debates continue.
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