🚨Scott Bessent: "I think the most important thing we can do is make it easy to build things again."

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Episode Description

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Brief Summary

Building infrastructure in the U.S. faces regulatory challenges, as seen with TSMC's Arizona chip plant.

Key points

Building Challenges in the US. The speaker highlights the difficulties in construction due to regulations, impacting innovation.
TSMC's Ambitious Plans. TSMC aims to produce 7% of US chips in Arizona, facing local regulatory hurdles.

Episode highlights

Episode quotes

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Transcript

I think the most important thing we can do is make it easy to build things again and stay out of the way and not overregulate. I would say one of the surprises that I've had and I've had a lot of them when I went from civilian to public servant has been that in the US we've made it so hard to build things. Right. TSMC wants to build a gigantic FAB system in Arizona and I think it might be able to produce up to 7% of the chips that the United States needs and they're dealing with local building inspectors. Evidently, these chip design plants are moving so quickly. You're constantly calling an audible and you've got someone saying, "Well, you said the

pipe was going to be there, not there. We're shutting you down." We even made the decision to de-industrialize through our environmental regulations.

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