As Trump 2.0 looms, Taiwan’s chip industry braces for upheaval
Al Jazeera
Trump’s return casts doubt on Joe Biden’s signature initiative providing billions in funding to semiconductor firms.
Taipei, Taiwan – With just weeks left in office, outgoing United States President Joe Biden and his team are scrambling to lock in billions of dollars in funding to re-shore chip manufacturing to the US.
Signed into law by Biden in 2022, the CHIPS and Science Act set aside $280bn in funding to boost domestic semiconductor research and manufacturing in the US, including $39bn in subsidies, loans and tax credits for both US and foreign companies.
The law received bipartisan support in Congress and was broadly welcomed in both Democratic and Republican-leaning states eager to lure cutting-edge manufacturing facilities and create jobs.
But with President-elect Donald Trump set to take office on January 20, the future of the CHIPS Act now looks uncertain, leaving Biden’s administration racing to wrap up complex negotiations with chipmakers and distribute funds.
During an appearance on the Joe Rogan Experience podcast shortly before the election, Trump blasted the legislation as being “so bad”.
