Biden’s Chips Team Hands Off $52 Billion Program to a Skeptical Trump
- Officials have struck binding contracts for 85% of grant money
- Trump Commerce pick told Raimondo he’s committed to program
The goal is to reduce reliance on Asia for the tiny components that power everything from microwaves to missiles.
Photographer: Chris Ratcliffe/BloombergPresident Joe Biden’s $52 billion bid to transform the domestic chip industry — one of the most ambitious pieces of US industrial policy since World War II — is about to enter a pivotal stage: life under a new administration.
The Biden staffers overseeing implementation of the bipartisan 2022 Chips and Science Act are wrapping up work this week and preparing to hand over duties when Donald Trump takes office on Jan. 20. They had the task of allocating $39 billion in grant funding — along with loans and tax breaks — to usher in a chip-factory building boom. That’s on top of separate money for research and development and international semiconductor programs.