CHIPS and Science Act, the federal government pledged $6.6 billion to help TSMC expand its U.S. operations in Phoenix. Tuesday night, President Donald Trump called the law “a horrible, horrible thing” and urged Congress to scrap it.

Trump said TSMC’s plans would create “many thousands” of high-paying jobs and described the production of AI chips within the US as a “matter of economic security” for the country.

The investment plan, announced at the White House, was made as the Trump administration pushes to bring chip making back to the United States.

President Trump and Taiwan Semiconductor Manufacturing announced a $100 billion company investment in Phoenix. The deal could have broad significance.