Trump Calls for End to $52 Billion Chips Act Subsidy Program (4)

President Donald Trump called for ending a bipartisan $52 billion semiconductor subsidy program that’s spurred more than $400 billion in investments from companies like Taiwan Semiconductor Manufacturing Co. and Intel Corp.

“Your Chips Act is a horrible, horrible thing,” the president said in a prime-time address to Congress on Tuesday. Trump implored US House Speaker Mike Johnson to get rid of the legislation and use “whatever is left over” to “reduce debt or any other reason.”

His remarks were met with applause in a chamber that passed the Chips and Science Act less than three years ago. Vice President JD ...