This Is What President Biden's CHIPS Office Actually Did
Odd Lots
Bloomberg
4.4 • 1.6K Ratings
🗓️ 23 April 2025
⏱️ 48 minutes
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Summary
One of the stated goals for the current trade war is to build more industrial capacity in the United States. So far there doesn't seem to be much of it happening. In fact, all of the manufacturing surveys (and all evidence) so far suggests the reverse. But not that long ago there was a concerted effort to build more factories in the United States. Under President Biden there was a whole host of new industrial announcements funded in part via the CHIPS Act and the Inflation Reduction Act. But did we get anything from these bills? Do we have anything to show for it? Why is building more capacity in the United States so difficult? On this episode, we spoke with Hassan Khan, who recently left his position as the director of economic security in the CHIPS Program Office at the Department of Commerce, about what he learned, what he saw, what could be done differently, and what the results are actually were.
Read more:
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US Chip Grants in Limbo as Lutnick Pushes Bigger Investments
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Transcript
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| 0:22.2 | Is this a negotiation or the new rules at a game? |
| 0:24.8 | It could be either. |
| 0:25.8 | It is up to the president how he wants to negotiate. |
| 0:28.7 | A deal is going to be made with China. |
| 0:30.4 | Nothing's over yet. |
| 0:31.4 | There's been a lot of confusion up to now. |
| 0:33.2 | A 90-day pause is not an eradication. |
| 0:35.8 | Where is this leading to? |
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| 0:43.5 | This year's bear case, very quickly, becoming the base case. |
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| 1:09.8 | Hello, and welcome to another episode of the Odd Lots podcast. I'm Jill Wiesenthal. |
| 1:15.5 | And I'm Tracy Allaway. |
| 1:16.8 | Tracy, I just wrote about this in our newsletter like five minutes ago. But it drives me nuts how on all of the talk about reindustrialization of America, everyone has just completely memory hold like 2022 and |
| 1:29.8 | 2023. Well, this is the amazing thing, right? We did have a big investment program actually |
| 1:36.4 | announced under the Biden administration, like huge amounts of money, billions of dollars. |
| 1:42.5 | And no one seems to be talking about it that much, or at least a very |
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