WATCH: Biden gives remarks on economy during campaign event at Union Station in Washington, DC

President Joe Biden delivered remarks on the economy during a campaign event at Union Station in Washington, DC on Tuesday.
Watch Biden’s remarks in the player above.
On Monday, the Biden administration pledged to provide up to $6.6 billion so that a Taiwanese semiconductor giant can expand the facilities it is already building in Arizona and better ensure that the most-advanced microchips are produced domestically for the first time.
The funding is tied to a sweeping 2022 law that President Joe Biden has celebrated and which is designed to revive U.S. semiconductor manufacturing. Known as the CHIPS and Science Act, the $280 billion package is aimed at sharpening the U.S. edge in military technology and manufacturing while minimizing the kinds of supply disruptions that occurred in 2021, after the start of the coronavirus pandemic, when a shortage of chips stalled factory assembly lines and fueled inflation.
The Biden administration has promised tens of billions of dollars to support construction of U.S. chip foundries and reduce reliance on Asian suppliers, which Washington sees as a security weakness.