Part 6/8:
In a broader discussion of domestic policy, the President commented on the importance of revitalizing American manufacturing, specifically the semiconductor industry. He highlighted that the U.S. used to be a leader in chip production but lost ground, notably to Taiwan, due to past policy sins and economic decisions.
He criticized the Chips Act, calling it a disaster that wasted billions of dollars on foreign companies, and instead credited tariffs for reigniting chip manufacturing within the United States. The President remains optimistic that within a few years, the U.S. might reclaim a majority share of global chip production because of the strategic use of tariffs and other policies.