I believe it's tiny's way of bullying other countries to invest in the U.S.
On it's face, it's not the worst idea he's had, however, most renowned economist say it will backfire, resulting in higher prices for U.S. consumers.
Biden's Chip Act included $39 billion in subsidies for chip manufacturing on U.S. soil along with 25% investment tax credits for costs of manufacturing equipment, and $13 billion for semiconductor research and workforce training, with the dual aim of strengthening American supply chain resilience and countering China.
tiny is trying to accomplish what Biden already did.