Trump's Commerce secretary pick says Biden-era chips investments need review
Howard Lutnick, U.S. President Donald Trump's nominee to be commerce secretary, testifies before a Senate Commerce Committee confirmation hearing on Capitol Hill in Washington, U.S., January 29, 2025. REUTERS/Kevin Lamarque
WASHINGTON : U.S. President Donald Trump's nominee for Commerce secretary Howard Lutnick said on Wednesday that the Biden-era subsidies for U.S. semiconductor manufacturing are an "excellent down payment" but need review.
"I think they're an excellent down payment as a structure. I think we need to get it right," Lutnick told a confirmation hearing before the U.S. Senate Commerce, Science and Transportation Committee. "I think we need to review them and get it right. But as the way that Congress has said it, it's an excellent down payment in our ability to bring semiconductor manufacturing back to America."
