President Trump made a call for the termination of the program aimed at supporting chip production. Trump argued that chip manufacturers are taking money but not spending it. President Donald Trump called for the end of the $52 billion chip program. In his speech in Congress, Trump told House Speaker Mike Johnson that the law should be abandoned. Trump described the CHIPS Act, implemented during the administration of former President Joe Biden to increase domestic semiconductor production, as “a terrible thing.” He stated, “We are giving billions of dollars, and it makes no sense. They are taking our money and not spending it.” Biden had signed the bipartisan chip law in 2022, providing $39 billion in grants and a 25% tax cut to bring chip production back to America. Additionally, $11 billion was allocated for chip research and development programs. The funds were distributed among leading chip manufacturers such as TSMC, Intel, Samsung, and Micron, as well as older generation chip manufacturers like GlobalFoundries and Texas Instruments benefiting from the fund. The regulation resulted in over $400 billion in investments in the chip industry.