Trump "Tariffs Can Attract Overseas Semiconductor Companies..."Why are you giving me a subsidy?"

Former President Donald Trump criticized the Semiconductor Act, which subsidizes global semiconductor companies such as Samsung Electronics and SK Hynix to invest in the U.S., and suggested imposing tariffs as an alternative.

Former President Trump appeared on the Joe Rogan podcast and criticized Biden's semiconductor deal as really bad, saying that even if billions of dollars were given to rich overseas semiconductor companies, they would not give good companies to the United States anyway.

Trump argued that he did not have to pay a single cent, saying that high tariffs would have allowed foreign semiconductor companies to come and set up semiconductor companies for free.

He added that if foreign semiconductor companies say they don't have to pay tariffs as long as they build a factory in the United States, the problem will be solved, adding that they don't have to pay to build a factory.

Former President Trump pointed to Taiwan's TSMC as a prime example, saying that foreign semiconductor companies are very wealthy and have stolen 95% of our business.

Trump said Taiwan is doing tremendously well and that's because of the stupid politicians in the U.S. and stressed that subsidies should not attract foreign companies and make them spend money in the U.S. themselves.

The semiconductor law enacted by the Biden administration provides a total of $52.7 billion over five years in production subsidies and research and development subsidies to semiconductor companies investing in the United States.