Trump unveils major US chip investments
Washington, Oct 21 (IANS/WISHAVWARTA) US President Donald Trump has announced a $1.5 billion Pentagon investment in semiconductor production and a new industrial minerals manufacturing facility in North Carolina, linking the expansion of America’s technology industry to national security, tariffs and efforts to reduce dependence on foreign supply chains.
Addressing a Republican campaign rally in Greenville on Tuesday (local time), Trump said his administration was rebuilding domestic manufacturing capacity in strategically important industries, including semiconductors, pharmaceuticals and aerospace.
The announcements came as Trump sought support for Republican candidates ahead of the November 3 congressional elections, warning that Democratic control of Congress could threaten his economic and security policies.
“The Department of War will be investing $1.5 billion to produce cutting-edge semiconductor chips right here in North Carolina,” Trump said.
Commerce Secretary Howard Lutnick separately announced that Sibelco, an industrial minerals company, would establish a quartz manufacturing facility in the state, involving an investment of hundreds of millions of dollars.
Lutnick described quartz as an essential material for semiconductor production and said the investment would support Trump’s objective of bringing critical manufacturing back to American soil.
The President argued that decades of industrial policy had allowed much of the semiconductor industry to move overseas, particularly to Taiwan.
He said major chip manufacturers were now investing hundreds of billions of dollars in American facilities, including projects in Arizona and possible further expansion in Texas.
“We’re going to have close to 50 per cent of the chip business in a very short order,” Trump said, presenting the forecast as evidence of his administration’s manufacturing strategy.
Trump also highlighted pharmaceutical investments by Johnson & Johnson, Biogen, Merck, Genentech and AbbVie, saying the companies were committing more than $10 billion to manufacturing operations in North Carolina.
He pointed to JetZero’s $4.7 billion aircraft manufacturing project, which he said would create more than 15,000 jobs.
The President attributed the expansion of domestic manufacturing to his tariff policies, arguing that foreign companies were increasingly choosing to produce goods inside the United States rather than face import duties.
He claimed his administration had secured $22.2 trillion in investment commitments, although the figure was not independently established in the supplied transcript.
Turning to the Middle East, Trump said the conflict involving Iran had affected energy prices but predicted a sharp decline in oil costs once the fighting ended.
He defended the military campaign as necessary to prevent Iran from acquiring nuclear weapons and maintained that the conflict would end quickly.
The President also used the rally to support Republican Senate candidate Michael Whatley against former Democratic Governor Roy Cooper.
Trump criticised Cooper’s record on crime, immigration and taxation, while urging voters to preserve Republican control of the House and Senate.
He also pledged further action on border security, healthcare and tax relief if Republicans retained their congressional majorities.
The November 3 midterm elections will determine control of Congress during the final two years of Trump’s second term. The outcome will affect his ability to advance legislation on trade, immigration, defence spending and domestic economic policy.
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