Push for CHIPS Act subsidies ramps up ahead of Trump taking office

[Jack]

THE BIDEN ADMINISTRATION IS WORKING TO COMPLETE ‘CHIPS ACT’ AGREEMENTS WITH MULTIPLE COMPANIES LIKE INTEL AND SAMSUNG – HOPING TO FINISH UP THE INITIATIVE BEFORE PRESIDENT-ELECT DONALD TRUMP RETURNS TO THE WHITE HOUSE.

CHIPS STANDS FOR “CREATING HELPFUL INCENTIVES TO PRODUCE SEMICONDUCTORS.”

THE BIDEN-ERA LEGISLATION PROVIDES INCENTIVES FOR CHIPMAKERS TO SET UP MANUFACTURING IN THE U-S.

THE CHIPS ARE AN IMPORTANT COMPONENT FOR SEVERAL PRODUCTS INCLUDING ELECTRONICS, VEHICLES, MEDICAL DEVICES AND DEFENSE SYSTEMS.

MANY IN THE TECH INDUSTRY ARE WORRIED TRUMP’S RE-ELECTION WILL HAVE AN IMPACT ON THE REVITALIZATION OF THE SEMICONDUCTOR INDUSTRY.

BUT, SOME CHIPS EXPERTS SAY TRUMP LIKELY WON’T ROLL BACK THE ACT … DESPITE THE NEGATIVE THINGS HE’S SAID ABOUT IT.

that chip deal is so bad, we put up billions of dollars for rich companies to come in and borrow the money and build chip companies here. And they’re not going to give us the good companies anyway. All you had to do is charge them tariffs. If you were to put a tariff on the chips coming in, you would have been able to. Just like the auto companies. No different. More sophisticated, but no different.

BOTH DEMOCRATS AND REPUBLICANS SUPPORTED BIDEN’S CHIPS EFFORTS IN THE U-S, SO EXPERTS IN THE FIELD SAY BECAUSE OF THAT SUPPORT – IT’S LIKELY THE POLICY WOULD REMAIN REGARDLESS OF TRUMP BEING ELECTED.

THE BIDEN ADMINISTRATION SIGNED THE BIPARTISAN BILL IN 20-22 – COMMITTING 53 BILLION DOLLARS TO BOOST U-S COMPETITIVENESS WITH CHINA.

MORE THAN 20 COMPANIES ARE STILL IN THE PROCESS OF NEGOTIATING … WHILE OTHERS HAVE WRAPPED UP THE CONTRACT PROCESS.

CHIPMAKERS SAY THEY’RE HOPING TO AVOID RE-NEGOTIATING TERMS WITH A NEW ADMINISTRATION.

THE TRUMP CAMPAIGN HASN’T COMMENTED ON THE CHIPS ACT SINCE THE ELECTION.

FOR SAN – I’M JACK AYLMER.

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