US is reworking subsidy awards to chipmakers, commerce secretary says

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US Commerce Secretary Howard Lutnick said the Trump administration has been reworking agreements forged with semiconductor makers under the 2022 Chips Act to secure what he called better terms aimed at generating additional domestic investment.

Lutnick cited the decision in March by Taiwan Semiconductor Manufacturing Co., a recipient of $6.6 billion in Chips Act grants, to boost its US investment commitment. The company is adding $100 billion to a previous $65 billion pledge, but without any additional funding from the government, Lutnick said.

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US is reworking subsidy awards to chipmakers, commerce secretary says


US Commerce Secretary Howard Lutnick said the Trump administration has been reworking agreements forged with semiconductor makers under the 2022 Chips Act to secure what he called better terms aimed at generating additional domestic investment.

Lutnick cited the decision in March by Taiwan Semiconductor Manufacturing Co., a recipient of $6.6 billion in Chips Act grants, to boost its US investment commitment. The company is adding $100 billion to a previous $65 billion pledge, but without any additional funding from the government, Lutnick said.

“Are…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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