Trump Admin Is Renegotiating CHIPS Act Deals to Secure More Investment, Lutnick Says
The secretary of commerce says the revised deals would allow the United States to get ’more value for the same dollars.’
By Bill Pan
6/5/2025 Updated: 6/5/2025
The Trump administration is reworking deals made with semiconductor makers under the Biden-era CHIPS Act to secure better terms that would bring more investment to the United States, according to Secretary of Commerce Howard Lutnick.
At a Senate Appropriations Committee hearing on Wednesday, Lutnick highlighted a revised deal with TSMC, which received $6.6 billion in direct federal funding under the CHIPS Act in exchange for a commitment to invest $65 billion to build three state-of-the-art factories in Arizona. In March, the Taiwanese company announced it would add $100 billion to its previous pledge, without any extra subsidies from the government.
“We’re getting more value for the same dollars,” Lutnick told Sen. Jeff Merkley (D-Ore.), who asked whether the Commerce Department was withholding CHIPS dollars that had already been awarded.
“Are we renegotiating? Absolutely, for the benefit of the American taxpayer, for sure.”
The bipartisan CHIPS Act, passed in 2022, allocated $53 billion in federal incentives to boost domestic semiconductor research and manufacturing, with the goal of producing 20 percent of the world’s most advanced chips in the United States by 2030. As of 2023, American production accounted for about 12 percent of the global semiconductor supply, and none of the most advanced chips.
Recipients of CHIPS funding include global chipmakers like TSMC, South Korea’s Samsung and SK Hynix, and U.S.-based Intel and Micron. Although the funding was approved under President Joe Biden, much of it had not been disbursed before he left office in January.
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READ MORE: https://www.theepochtimes.com/us/trump-admin-is-renegotiating-chips-act-deals-to-secure-more-investment-lutnick-says-5868011?ea_src=frontpage&ea_cnt=a&ea_med=latest-news-posts-3
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