America’s bet on industrial policy starts to pay off for semiconductors
Trump will not reverse the chip subsidies, but will he reinforce them?
IN THE FINAL days of Joe Biden’s presidency, most parts of his administration are winding down. Not so the top brass in the Department of Commerce: on an almost daily basis, they are signing giant funding contracts with chipmakers, racing to dole out cash before Donald Trump enters the White House. When all is said and done, they will have awarded nearly $40bn to semiconductor makers in little more than a year—arguably the biggest single bet on industrial policy by the government in decades, and one that could end up as Mr Biden’s most lasting economic legacy.
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This article appeared in the United States section of the print edition under the headline “Going big”
United States
January 11th 2025- Los Angeles against the flames
- America’s bet on industrial policy starts to pay off for semiconductors
- Mike Johnson has his old job back, for now
- When treating snakebites, American hospitals turn to zoos
- Most Americans think moderate drinking is fine
- The US Army needs less good, cheaper drones to compete
From the January 11th 2025 edition
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Donald Trump’s Washington reaches a new partisan peak
His address to Congress showed that Republicans will follow their leader anywhere, and that Democrats don’t have one
Andrew Cuomo plots a comeback in New York City
The disgraced former governor announces a run for mayor of the Big Apple
Trump’s armed forces won’t look like Biden’s
America is set to spend more—and differently
Steve Witkoff, Donald Trump’s savvy dealmaker
The novice diplomat embodies the president’s transactional worldview
America has never had state media like it does today
Donald Trump and Elon Musk are revolutionising presidential communication
America’s Gen Z has got religion
Because of them, a long decline in the number of Christians has levelled off