Why on Earth does Trump want to cancel the CHIPS Act??

I wasn’t planning to write another post about Trump and China. But then a student journalist named Luke Radel asked House Speaker Mike Johnson whether he and Trump will repeal the CHIPS Act if Trump wins the election, and Johnson said yes: Johnson later appeared to walk back his answer, but Trump has already denounced the CHIPS Act, so it’s likely that Johnson — who generally does Trump’s bidding —was telling the truth: My reaction to all this is: What on Earth?! Are you kidding me?? The CHIPS Act was a bipartisan bill, whose only purpose was to preserve or regain U.S. manufacturing capacity in the all-important semiconductor industry, in the face of a huge Chinese push for dominance of that industry. The bill has been successful so far, spurring private investment plans that dwarf the amount of government spending involved: Initial fears that CHIPS Act projects would get bogged down in regulatory or labor disputes have proven unfounded so far. The TSMC fab in Arizona, probably the hig

I wasn’t planning to write another post about Trump and China. But then a student journalist named Luke Radel asked House Speaker Mike Johnson whether he and Trump will repeal the CHIPS Act if Trump wins the election, and Johnson said yes: Johnson later appeared to walk back his answer, but Trump has already denounced the CHIPS Act, so it’s likely that Johnson — who generally does Trump’s bidding —was telling the truth: My reaction to all this is: What on Earth?! Are you kidding me?? The CHIPS Act was a bipartisan bill, whose only purpose was to preserve or regain U.S. manufacturing capacity i