07:14 AM EDT, 04/01/2025 (MT Newswires) -- President Donald Trump signed an executive order Monday to establish a new office under the US Department of Commerce aimed at expediting major investments in the US, while also overseeing the CHIPS Program.

The United States Investment Accelerator, which is planned to launch within 30 days, will assist projects worth over $1 billion by helping companies navigate regulatory hurdles, streamline permitting, and coordinate with state and federal agencies, the order said.

The office, while overseeing the CHIPS Program, will seek to renegotiate what President Trump called "much better deals" than those made under the previous administration.