Trump warns of tariffs on chips - Measures will target companies that do not move production to the US
President Donald Trump said his administration will impose tariffs on semiconductor imports from companies that do not move production to the United States.
Since his return to office in January, Trump's threat to impose tariffs has angered trading partners, caused volatility in financial markets and increased uncertainty in the global economy.
“On the chips, we’re going to put tariffs on companies that are not coming into the United States. We’re going to put a tariff on them very soon,” Trump said, without giving a timeline or exact percentage. “We’re going to put a significant tariff on them, with the condition that if they come back into the country or plan to manufacture here, the tariffs will be lifted,” he told reporters.
The US president has turned tariffs into a pillar of foreign policy, using them as a pressure tool to renegotiate trade agreements and obtain concessions from states and companies that export goods to the US.
“For example, I would say that Apple CEO Tim Cook is in a good position,” he added, as Cook sat across the table from him. Apple, the maker of the iPhone, recently increased its commitment to invest in the U.S. to $600 billion over the next four years.
Last month, Trump declared that the United States would impose a tariff of about 100% on semiconductor imports, but it would not apply to companies that manufacture domestically or that have committed to doing so.
Asian chip giants, such as Taiwan's TSMC and South Korea's Samsung Electronics and SK Hynix, have already announced that they will invest in chip production in the US.
Meanwhile, Trump has faced legal challenges to his use of tariffs. His administration has asked the Supreme Court to review a request to keep the tariffs in place, citing a 1977 law that was intended for emergencies. The request came after a lower court struck down most of the tariffs that have been central to his economic and trade agenda.
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