The CHIPS act is intended to discourage US semiconductor companies from outsourcing of chip manufacturing to hostile countries such as China. A look at the details of how it is supposed to achieve this shows the weakness and timidity of the US government in dealing with any sort of big business.

The US government hasn't got the gumption to prohibit US companies from doing things that put the nation in danger, or even to penalize them to discourage doing so. The best it can manage is to offer subsidies if they avoid those actions.

For this reason and many others, making America great again starts with slapping down the businesses that think they own it.

Here's the White House statement lauding the law.