SMM

Trump Establishes New Office to Take Over CHIPS Act Projects, Stimulating SHFE Tin Prices to Continue Surging Due to Wa State Meeting Delay [SMM Tin Morning Briefing] Trump Establishes New Office to Take Over CHIPS Act Projects: US President Trump signed an executive order on Monday to establish a new entity to take over the CHIPS Act projects, accelerating corporate investments in the US. The US Investment Accelerator under the Department of Commerce will oversee the implementation of the CHIPS and Science Act, which was passed in 2022 and provides $52.7 billion in subsidies for semiconductor chip manufacturing and production. Earlier in March, Trump suggested that US lawmakers should repeal the act and instead use its proceeds to pay down debt. The White House stated that the new office will be responsible for "negotiating better CHIPS Act deals than the previous administration," but did not provide further details. According to a fact sheet released by the White House, the Investment Accelerator will also encourage large-scale corporate investments in the US by reducing regulatory burdens, speeding up approvals, coordinating with federal agencies and states, and increasing the utilization of national resources. The announcement of the postponement of the symposium on the resumption of production at the Manxiang mine during yesterday's night session pushed SHFE tin prices further upward, reaching a high of 291,000 yuan/mt before pulling back slightly to close at 287,540 yuan/mt. Affected by the continuous rise in SHFE tin prices, spot market transactions were relatively sluggish, with downstream companies mainly making just-in-time procurement and overall restocking意愿较低.