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  • 5 months ago
At a White House press briefing on Tuesday, Press Secretary Karoline Leavitt was asked about
Transcript
00:00Can you describe the President's perspective on taking a stake in Intel in
00:03exchange for federal grants? And is this a, are we expecting to see the White
00:07House make similar arrangements with other semiconductor companies and
00:10manufacturing companies? Well, the President, he's been very clear about
00:13the need to reshore manufacturing that's critical to our national and economic
00:17security. That is especially in regards to chips and semiconductors, which is
00:21why the President has initiated the Commerce Department to conduct a study
00:26on semiconductors, a Section 232 investigation, so we can ultimately
00:30implement tariffs. And it's why our export license requirements remain in place as
00:35well. As for this 10 percent government stake deal, the Department of Commerce
00:39continues to work on it. I know Secretary Lutnik is working on it and ironing out
00:44the details, but the President wants to put America's needs first, both from a
00:49national security and economic perspective. And it's a creative idea that has never
00:53been done before, to ensure that we're both reshoring these critical supply
00:58chains while also gaining something of it for the American taxpayer. You're welcome.
01:02Emily.
01:03Thanks, Caroline.
01:04I wanted to ask-
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