U.S. President Donald Trump's nominee for Commerce secretary Howard Lutnick said on Wednesday that the Biden-era subsidies for U.S. semiconductor manufacturing are an "excellent down payment" but need review.

President Trump said in the "very near future" he will impose tariffs on steel, aluminum, copper, semiconductors, pharmaceuticals and other imports.

The CHIPS and Science Act was passed by Congress in August 2022, and authorized the Biden administration to distribute $53 billion to boost semiconductor manufacturing. Most of that money hasn't been spent yet, giving the Trump administration a lot of leeway over how it is handled.

Semiconductor business between Taiwan and the United States is a "win-win" model for both sides given the high level of complementarity, the government said on Tuesday in response to tariff threats from U.

President Donald Trump has threatened to impose tariffs on Taiwan-made chips, which could hit Nvidia, one of TSMC's biggest customers.

President Donald Trump previously criticized the CHIPS and Science Act, leading to speculation over whether the law could be repealed or tweaked under the new administration.

Donald Trump called for tariffs on foreign computer chips, semiconductors, and pharmaceuticals from places like Taiwan in the near future.

No wonder OpenAI needs $500B for Stargate Americans could soon see the price of electronics skyrocket in response to a 25-100 percent import tariff on computer chips promised by US President Donald Trump on Monday.

In a hearing before the Senate Commerce Committee, Howard Lutnick was asked about an array of policy matters including tariffs, China, inflation, and more.

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