On Monday, President Donald Trump signed an executive order to create a new office in the Commerce Department to speed up investments of over $1 billion in the United States.
The order will also administer federal funds under the Chips and Science Act.
The order will create the United States Investment Accelerator to focus on reducing regulations, streamlining permits, and boosting coordination across national laboratories and state governments. Officials say the goal is to make large-scale investments on American soil simpler and more attractive.
According to a White House fact sheet, “The Investment Accelerator will be responsible for administering the CHIPS Program Office, where it will deliver the benefit of the bargain for taxpayers, negotiating much better CHIPS Act deals than the previous Administration.”
Trump has long criticized the CHIPS and Science Act, which was signed by former President Joe Biden. That law included $52 billion in subsidies and incentives to strengthen US semiconductor production, lessening the nation’s reliance on Asian suppliers for vital electronics components. These electronic components power smartphones and even data centers.
While the CHIPS Act’s subsidy program spurred more than $400 billion in investments by major chipmakers, including ### Semiconductor Manufacturing Co. and Intel Corp., Trump argues that tariffs and lighter regulations would be a better way to draw more investments into the US.
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In a recent address to Congress, he urged lawmakers to end the CHIPS Act and use any leftover funds to reduce the national debt or support other measures. He has pointed to TSMC’s newly announced $100 billion pledge in the United States, on top of a previous $65 billion commitment, as evidence his trade policies are working.
Trump pledged to expedite permits for companies bringing $1 billion into the US
The latest executive action comes just two days before the president plans to unveil broad reciprocal tariffs against nations he says block American exports. Trump also promises new duties to specific industries, including semiconductor and pharmaceutical products. He has already imposed import taxes on autos, steel, and aluminum.
The Commerce Department office is also following a pledge Trump made after the 2024 election to expedite permits for companies or people bringing in at least $1 billion into the US. This aligns with his broader plan to boost energy infrastructure and other domestic improvements.
Still, the idea of speeding up permits may face obstacles at the state and local levels, where regulations and community input can slow large projects. Despite these potential challenges, Trump’s team says the new office will improve cooperation among agencies and deliver on the administration’s commitment to bring big investments onto American shores.
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