Trump's New Semiconductor Tariff: A 100% Shockwave
President Donald Trump announced a new 100% tariff on semiconductor chips imported into the United States, aiming to encourage domestic production. The tariff exemption applies to companies that either have committed to or are currently manufacturing in the U.S.
- Country:
- United States
The United States is set to introduce a significant 100% tariff on imported semiconductor chips, President Donald Trump revealed on Wednesday. This move aims to bolster domestic manufacturing and reduce reliance on foreign imports.
Speaking from the Oval Office, Trump specified that the tariff will impact all chips and semiconductors entering the U.S. However, companies that have pledged to produce within the country will be exempt from these charges.
"A 100% tariff on all chips and semiconductors is effective immediately. However, companies committed to U.S. production, or those currently constructing facilities, will not be subject to these tariffs," Trump stated, highlighting efforts to foster local industry growth.
(With inputs from agencies.)
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