Biden OUTMANEUVERS Trump with URGENT PLAN to STOP HIM
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Why is President Biden acting now to protect the U.S. economy during the transition?
Even as a lame duck president during this transitionary period, President Biden is taking the steps to protect some key economic accomplishments of his that frankly benefit the American people. He has to outmaneuver Donald Trump, who plans to enact some devastating economic policies that we're already feeling right now, even during the transition. As I said, I'm not going to play videos or audio of Donald Trump anytime soon. But I'll remind you that during the election, Donald Trump said the following. Donald Trump said that the Chips and Science Act, which brings thousands of manufacturing jobs back to America, bringing the semiconductor industry to America, he says it's so bad. And he says that he wants to replace the CHIPS Act with tariffs that will raise prices on the middle class.
So we already see Walmart making announcements that their prices are going up, up, up. to prepare for Donald Trump's devastating tariffs. So for everyone who thought, oh, Donald Trump's tariffs, that's not a tax on Americans. That's a tax on China. Well, as we said, it's a tax on Americans passed through to consumers. Donald Trump like he's done his entire life. Ding, ding, ding. He has lied to you. Take a look at this though. President Biden just Trumpproofed his Hallmark Chips Act. This is the act that brings the semiconductor industry uh here to the United States, investing over fifty-two billion dollars in America's semiconductor industry. Here's how Newsweek talks about Biden having to outmaneuver Trump.
To help the United States. Even though if Biden was trying to be selfish about it or Trumpy about it, Biden may just be like, I'm out. What do I need to do? But Biden realizes that he's a president still for all Americans. Here's what it says: in a move to secure America's semiconductor industry, President Joe Biden's administration finalized a $6.6 billion award. To Taiwan Semiconductor Manufacturing Company, TSMC, for the construction of chip factories. In Phoenix, Arizona. The announcement comes just two weeks after Donald Trump's victory, signaling an effort to lock in the deal before the new administration takes office, because Donald Trump doesn't want the investments in America like this. TSMC, the world's largest contract chipmaker and supplier to major technology companies, including Apple.
Nvidia, AMD, and Qualcomm plans to invest $65 billion to build three state of the art semiconductor fabrication plants in Arizona. Just think about that. Right now, uh, President Biden fighting to bring these factories here into even a state like Arizona. That did not vote for him this time. This is how he's spending uh his remaining days in office. Thousands of facilities are expected to create thousands of jobs and strengthen the United States position in the global semiconductor supply chain. The first TSMC plant is expected to be fully operational within a few months. For the first time in decades, an American manufacturing plant will be producing leading-edge chips used in our most advanced technologies, Biden said.
The 6.6 $6 billion award to TSMC is part of the Chips and Science Act, one of Biden's signature legislative achievements. Signed into law in August 2022. The Act allocates $52.7 billion for semiconductor research, manufacturing, and workforce development in the U.S. The timing of this award is critical. Trump's previous statements have raised concerns that his incoming administration might attempt to. Derail subsidies aimed at fostering the domestic chip industry. Just think about it. Trump's plan. is to attack American domestic chip manufacturers, literally to shut down the factories so that he can tariff China, which really means tariff American companies, uh tariff taxes to imports that get passed on to consumers.
It's quite literally the most asinine economic plan that exists, full stop. The article goes on to cite the quote that I gave you at the beginning of this video. And Donald Trump says, Taiwan took our chips business from us. I mean, how stupid are we? How stupid are you, Donald Trump?
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