Opinionated summary:

• Despite Republican assurances, Trump called the CHIPS Act “horrible” and pushed for its scrapping, creating chaos for an industry already struggling with uncertainty.
• The Trump administration has already sabotaged the program by laying off key staff and considering changes to the projects, showing its disdain for U.S. industrial growth.
• Industry leaders, who have already committed billions to U.S. chip production, are now left in limbo, thanks to Trump’s shortsighted, destructive rhetoric.