Former President Donald Trump has reignited debate over the Chips Act by proposing its termination in favor of tariffs.

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.

Reports of anticipated mass layoffs within the National Institute of Standards and Technology are sparking concerns about the future of the CHIPS Act, the federal program providing billions to promote domestic semiconductor manufacturing like the Intel Ohio One plant in New Albany.

President Donald Trump said lawmakers should get rid of the 2022 CHIPS Act that paved the way for Intel to announce the building of two Ohio plants.

TSMC, the world’s biggest semiconductor manufacturer, produces chips for companies including Apple, Intel and Nvidia.

President Donald Trump's threat to scrap the CHIPS Act while luring semiconductor investment in the U.S. through tariffs hurts Intel and American competitiveness, according to the Financial Times.

President Trump says US chip making business was stolen by Taiwan, blames former presidents, reiterates Intel was great under Andy Grove's leadership.

During his speech Tuesday, President Donald Trump called for repealing the CHIPS Act, which played a key role in Intel announcing its New Albany plant. While discussing major tech companies making investments in America as opposed to opening plants overseas,

TSMC, the world’s biggest semiconductor manufacturer, produces chips for companies including Apple, Intel and Nvidia.

U.S. President Donald Trump is slated to host executives from several large tech companies on Monday, including IBM (IBM), Intel (INTC), HP (HPQ) and Qualcomm (QCOM), according to a report by Bloomberg.