United States President Donald Trump on Monday strongly criticized the Chips and Science Act, a signature legislative effort by his predecessor Joe Biden, labeling it a “disaster.” The law, enacted in 2022, introduced sweeping federal subsidies aimed at bolstering domestic semiconductor manufacturing and strengthening the U.S. tech industry.

Despite its intention to revitalize the chip sector, Trump dismissed the act’s impact, arguing that real progress is being driven by his administration’s economic policies. Speaking at an event, he stated that “companies are moving back to the U.S. because of what we’ve done.”

The president claimed that his administration has “probably identified maybe $4 trillion worth of companies moving back or going to move back” to the country, citing this as evidence of the effectiveness of his policies. He also emphasized that these investments are expected to generate numerous “high-paying jobs” across various sectors.

Trump’s remarks draw a stark contrast with Biden’s approach, which centered on government intervention and subsidies to support a strategically important industry. While the Chips and Science Act aimed to reduce reliance on foreign suppliers and secure the semiconductor supply chain, Trump argues that regulatory reform and pro-business policies are more effective at attracting corporate investment.

Industry analysts continue to monitor how both legislative and policy approaches impact U.S. competitiveness in the global tech market. While the Chips Act has already led to some major investment announcements from chipmakers, Trump’s assertions shift the narrative toward organic economic momentum tied to deregulation and tax incentives.

The debate over the best strategy for tech-sector growth and national industrial strength is likely to remain a central issue heading into upcoming political cycles, with both parties promoting differing paths to U.S. economic leadership.