Tech experts: Trump 'unlikely to roll back' Biden’s CHIPS and Science Act

07 November 2024

During his 2024 campaign, Donald Trump was highly critical of the Democrat-sponsored, Biden Administration-approved CHIPS and Science Act.

Trump and House Speaker Mike Johnson (R-Louisiana) indicated that they would favor overturning the Biden Administration-approved legislation.

But according to reporting from CNBC's Dylan Butts, President-Elect Trump is "unlikely" to roll back the CHIPS and Science Act after he is sworn in for a second term.

Butts reports, "The legislation, which provides incentives for chipmakers to set up manufacturing in the U.S., became a point of contention in the final month of the election cycle. Trump criticized the bill and its price tag. House Speaker Mike Johnson, a Republican, then said that his party 'probably will' try to repeal the law. Johnson later walked the statement back."

The CNBC reporter continues, "Still, the key Biden policy, which has massive implications for Asian chips makers like TSMC and Samsung, is likely safe in the near term, according to chip experts."

One of those tech experts is Paul Triolo of the Albright Stonebridge.

Triolo recently told CNBC, "There's support for this kind of onshoring of advanced manufacturing."

Adam Posen, president of the Peterson Institute for International Economics, told CNBC he expects the second Trump Adminitration to "spread the money a little differently than Biden" but added, "I don't think they're going to roll it back."

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