"We gradually lost the chip business, and now it's almost exclusively in Taiwan. They (Taiwan) stole it from us. They took it from us" Trump said.
"We had the chip business, and now it’s all in Taiwan, almost exclusive… a little in South Korea, but mostly in Taiwan." he continued.
The president stressed the critical role of semiconductors in modern technology, describing them as essential components in virtually all electronic devices.
Referring to Taiwan Semiconductor Manufacturing Company's (TSMC) recent announcement of major U.S. investment plans, Trump said, "We will bring back a large part of the semiconductor industry."
He again criticized the CHIPS and Science Act passed during the Biden administration as "just a waste of money." The legislation provides $52.7 billion in subsidies over five years to companies investing in the U.S. semiconductor industry.
Both Samsung Electronics and SK hynix had signed agreements with the Biden administration to receive subsidies under this act.
Trump has maintained that rather than providing subsidies, imposing tariffs would force companies to produce semiconductors in the United States. He reiterated this position during his congressional address on March 4, urging the repeal of the CHIPS Act.
During Saturday's remarks, Trump also claimed that companies face significant difficulties receiving subsidies under the CHIPS Act because they must meet race and gender requirements, apparently referring to the act's provisions for underrepresented groups.
The Republican party has opposed such Diversity, Equity, and Inclusion (DEI) policies, arguing they place unnecessary burdens on businesses and discriminate against white Americans.
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