President Trump says US chip business was stolen from USA by Taiwan, blames former presidents

President Trump has said that Taiwan stole the US chip business from the USA, but didn't blame the country, instead placing the blame on former presidents and administrations.

In a new chat with the press in the Oval Office today, President Trump talked about ex-CEO of Intel, Andy Grove, calling him a great man, and that the fall of Intel started once he was finished as CEO.

President Trump said: "I used to read about him when I was a young man, and he did an incredible job. He really dominated the chip business, and then he died, and I guess they had a series of people who didn't know what the hell they were doing and we gradually lost the chip business, and now it's almost exclusively in Taiwan... they stole it from us, they took it from us".

President Trump continued: "I don't blame them, I give them credit. I blame the people who were sitting in this seat and because they allowed it to happen, we could've protected that so easily, so we had the chip business and now it's all in Taiwan, almost exclusively... a little bit in South Korea, but mostly in Taiwan".

He added: "It's very important, everything you do, everything you touch, is now about chips. The brake of a car, cars have chips all over the place, I was reading an article the other day where they talk about the brakes of a car are loaded with up chips... who would think that a brake has a chip in it... but, it's all about chips. So, that was a big thing, and we'll be investing hundreds of billions of dollars in this country and we will be taking back a big, big portion of that industry".