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US Commerce Secretary May Eliminate Chips Act Subsidies, Forcing US Firms to Raise Investment Commitments: Wire
01 Apr 2025 11:41
US Commerce Secretary Howard Lutnick said that he may suspend promised Chips Act subsidies, as companies wishing to receive federal subsidies are required to commit to substantial expansion in US projects first, Bloomberg quoted sources as saying.

Lutnick reportedly wanted subsidized companies to follow the footsteps of TSMC (TSM.US), which recently announced it would invest an additional US$100 billion in US factories, after committing to invest US$65 billion.

Lutnick's goal is to make tens of billions of dollars in additional chip investment commitments without increasing the size of federal subsidies.
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