US Is Reworking Subsidy Awards to Chipmakers, Lutnick 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.