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Trump's Comeback: Sweeping Victory, Harris Concedes but Promises “Fight”

Donald Trump has reclaimed the White House after a divisive campaign that defied polls and criminal charges. Kamala Harris conceded but vowed to continue her "fight for freedom and dignity." Trump’s win represents a strong shift in voter sentiment, with Americans prioritizing economic and border security concerns. Harris consoled her supporters, calling for resilience while refusing to align with Trump’s vision. Biden plans to address the nation on Thursday. Trump, along with Vice President-elect JD Vance, aims to take office on January 20 with promises of sweeping changes, including firing civil servants he deems disloyal and possibly replacing regulatory heads. He has tapped prominent figures, such as Elon Musk and Robert F. Kennedy Jr., for administration roles. Trump's Electoral College win was bolstered by strong support across at least five battleground states. His victory also secured a Republican majority in both the Senate and House , easing the way for h
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TSMC and GlobalFoundries Finalize US Chips Act Awards for US Factory Expansion



Taiwan Semiconductor Manufacturing Co (TSMC) and Global Foundries have concluded negotiations for billions in grants and loans under the US Chips and Science Act to support their US-based semiconductor factories. The agreements, initially outlined earlier this year, are nearing official signing as the Biden administration seeks to complete funding allocations before the end of its term in January.

TSMC’s package, announced in April, includes US$6.6 billion in grants and up to US$5 billion in loans for building three factories in Phoenix. GlobalFoundries’ deal, set in February, involves US$1.5 billion in grants and US$1.6 billion in loans to support a new plant in New York and expand facilities in New York and Vermont.

The Chips Act earmarked US$39 billion in grants, loans, and tax credits to strengthen US semiconductor manufacturing, which has shifted significantly to Asia over recent decades. The initiative has spurred tenfold private investment commitments, including new plants for advanced and legacy chips. Over 20 companies are set to receive funding, with about US$3 billion still available for preliminary agreements.

With Donald Trump’s administration beginning in January, it remains uncertain how the program will evolve. Industry officials are eager for rapid approval to start funding projects that meet milestones, particularly amid Trump’s recent criticism of the program.

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