US EditionTrump weighs using $2 billion in CHIPS Act funding for critical minerals, sources say
The Trump administration aims to centralize funding decisions for critical minerals by expanding Commerce Secretary Lutnick's authority, reallocating $2 billion from semiconductor projects to reduce China reliance.
- The Trump administration is exploring a plan to shift a minimum of $2 billion originally designated for semiconductor manufacturing under the CHIPS Act toward initiatives supporting domestic critical minerals development.
- This move follows ongoing concerns about U.S. reliance on China for essential minerals used in semiconductors and defense equipment.
- The plan involves boosting Commerce Secretary Howard Lutnick's role to coordinate funding decisions and avoid past political backlash over "picking winners."
- The CHIPS and Science Act, signed into law in 2022 by President Biden, originally allocated $52.7 billion to semiconductor manufacturing and research.
- If implemented, the reallocation could shift U.S. policy toward greater domestic mining, aligning with Trump's strategy to expand critical mineral production without new congressional approval.
14 Articles
14 Articles
Trump Plots $2B Chips Act Shakeup To Fight China With Critical Minerals
WASHINGTON D.C (VINnews)-The Trump administration is weighing a dramatic reshuffling of the CHIPS Act—redirecting $2 billion originally earmarked for semiconductor factories and research into U.S. mining projects for critical minerals. Why it matters: America relies heavily on China for essential minerals like lithium, gallium, and germanium—vital ingredients for everything from smartphones and EV batteries […]
Trump weighs using $2 billion in CHIPS Act funding for critical minerals, sources say
The Trump administration is considering a plan to reallocate at least $2 billion from the CHIPS Act to fund critical minerals projects and boost Commerce Secretary Howard Lutnick's influence over the strategic sector, two sources familiar with the matter told Reuters.
Trump Weighs Using CHIPS Act Funding for Critical Minerals
Believe it or not, but US President Donald Trump shared some similar goals with his predecessor, Joe Biden. Both US Presidents wanted to encourage more manufacturing of semiconductors in the US, which ultimately led to the CHIPS Act. This is a grant for companies to incentivize them to produce more semiconductors stateside. However, it seems that Trump is now considering using funding for the CHIPS Act to acquire critical minerals. Trump wants C…
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