On Wednesday, President Donald Trump declared that he will put a 100% tariff on chips and semiconductor imports, but not on businesses who are “building in the United States.”
With the announcement of new sector-specific tariffs, Trump is stepping up his pressure on companies to produce their goods in the United States.
But it wasn’t immediately apparent what the plan’s parameters would be, like how much U.S. manufacturing a company must perform to be eligible for the tariff exemption.
On Wednesday afternoon, Trump declared in the Oval Office that “we are going to impose a very large tariff on chips and semiconductors.”
Source (CNBC)
