▶ Ramaswami, head of the Ministry of Government Efficiency, criticizes the Biden administration for providing last-minute subsidies.
▶ “Last minute contract for subsidy payment, auditor will be recommended to closely investigate”
Ramaswami, who will lead President-elect Trump’s Ministry of Government Efficiency [로이터]
President-elect Donald Trump’s side announced that the Biden administration may review subsidies being paid to companies to foster the semiconductor and clean energy industries in the United States.
Vivek Ramaswamy posted on pointed out.
Ramaswami, a former businessman who ran for the Republican presidential nomination, will lead the Department of Government Efficiency (DOGE) along with Tesla CEO Elon Musk in the Trump administration, which will be inaugurated on January 20th next year.
President-elect Trump has announced that the two businessmen will lead the new DOGE and eliminate government bureaucracy, excessive regulations, and wasteful spending.
Previously, Minister Rubondo said in an interview that he intends to pay as much of the semiconductor law support as promised to companies before President-elect Trump takes office on January 20th next year.
The Semiconductor Act provides subsidies to companies investing in factories to encourage semiconductor production in the United States, but among the companies selected by the Department of Commerce for support, Samsung Electronics, SK Hynix, and Micron have not yet received subsidies.
The Biden administration is trying to finalize agreements with companies that benefit from subsidies and execute the related budget as quickly as possible to prevent the Trump administration from overturning industrial policies such as the Semiconductor Act and the Inflation Reduction Act (IRA).
The Biden administration announced on this day that it would pay up to $7.866 billion to Intel, and is reportedly currently in discussions with other companies such as Samsung Electronics and SK Hynix.
Ramaswami also posted a post on
“DOGE will review all of these 11th hour gambits and recommend that auditors scrutinize these last-minute contracts,” he said.
He also argued that political officials appointed by the Biden administration should be mercilessly exposed if they transfer to companies that benefit from government subsidies.
If the Trump administration takes issue with the Biden administration’s subsidy payments, canceling contracts and taking action to recover them, there are concerns that there will be major disruptions in the business of Korean companies that have received benefits from the Semiconductor Act and IRA or invested in the United States in anticipation of subsidies.
**Considering Vivek Ramaswamy’s stated concerns, how might the role and priorities of the Department of Government Efficiency (DOGE) under the Trump administration impact the US semiconductor industry and its relationship with international players like Samsung and SK Hynix?**
## World Today News Exclusive Interview: The Future of US Semiconductor Subsidies
**Introduction:**
Welcome to World Today News. Today, we’re joined by two distinguished guests, [Guest 1 Name], a leading expert on US economic policy, and [Guest 2 Name], a Washington correspondent specializing in industrial policy, to discuss the potential ramifications of the recent statements made by incoming Trump administration officials regarding semiconductor subsidies.
**Section 1: The Scramble for Subsidies**
* **Host:** The article highlights the Biden administration’s rush to finalize semiconductor subsidy agreements before the Trump administration takes office. [Guest 1 Name], can you shed light on the strategic motivations behind this last-minute push?
* **Host:** [Guest 2 Name], how do you assess the likelihood of the Trump administration actually overturning or canceling these contracts? What legal and political obstacles might they face?
**Section 2: Ramaswamy’s Concerns and the Role of DOGE**
* **Host:** Vivek Ramaswamy, the future head of the Department of Government Efficiency (DOGE), has raised concerns about the ”last-minute gambits” of the Biden administration. What specific concerns does his statement convey, [Guest 1 Name]? Do you believe these concerns are warranted?
* **Host:** [Guest 2 Name], how do you see the role of DOGE evolving under the Trump administration? Will it indeed scrutinize these subsidies as Ramaswamy suggests? What impact might this have on the relationship between the government and private companies like Samsung and SK Hynix?
**Section 3: Implications for Korean Companies and the Global Semiconductor Industry**
* **Host:** The article mentions the potential for ”major disruptions” for Korean companies like Samsung and SK Hynix if the Trump administration takes action. [Guest 1 Name], what are the potential economic consequences for these companies, and could this extend to the broader global semiconductor industry?
* **Host:** [Guest 2 Name], considering the global interconnectedness of the semiconductor industry, what steps do you think Korean companies and other stakeholders need to take to mitigate potential risks and uncertainties?
**Section 4: Looking Ahead: The Future of US Industrial Policy**
* **Host:** This situation raises broader questions about the future of US industrial policy. [Guest 1 Name], how might the impending changes in administration impact the overall direction of US industrial policy, particularly in crucial sectors like semiconductors?
* **Host:** [Guest 2 Name], what are your thoughts on the implications of this political tug-of-war for the US’s position in the global technological landscape? Will this ultimately benefit or harm American competitiveness in the long run?
**Outro:**
Thank you, [Guest 1 Name] and [Guest 2 Name], for sharing your invaluable insights on this critical issue. This ongoing debate highlights the complex challenges facing the United States in navigating the global technological landscape. The coming months will be crucial as we witness how the new administration approaches industrial policy and its impact on key sectors like semiconductors.
We encourage our viewers to continue following this developing story and engage in constructive dialog on this crucial topic.
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