US President Donald Trump wants to kill the Chip and Science act to reduce debt

“We should get rid of the chip act, and whatever is leftover, we should use it to reduce debt or any other reason you want to” Donald Trump said in his first address to the joint session of the Congress after returning as US President in 2025.

The move would hit companies like Texas Instruments ($1.6 billion grant approved as of Jan 2025), Korea’s Samsung ($4.75 billion in grants),  Intel (over $7 billion in grants), and Taiwanese giant TSMC ($6.6 billion in grants and $5 billion in loans), according to data from the Semiconductor Industry…