US EditionTrump Says He Will Set Tariffs on Steel and Semiconductor Chips in Coming Weeks
Tariffs on steel and semiconductor imports will start low and increase sharply to encourage U.S. manufacturing, with rates possibly reaching up to 300%, according to President Trump.
- On August 15, President Donald Trump stated he plans to impose import taxes on steel and semiconductor products in the near future.
- This follows a Commerce Department Section 232 investigation launched in April assessing semiconductor imports' impact on national security and domestic supply chains.
- Trump said tariffs would start lower to encourage U.S. manufacturing but rise sharply later, a pattern similar to proposed pharmaceutical tariffs.
- He stated the semiconductor tariff would be approximately 100%, with exemptions for companies that relocate production to the U.S., and said, "That gives them a chance to come in and build."
- The tariff plan signals a major expansion of Trump's trade policy, which already raised steel and aluminum duties to 50% to boost domestic industry.
72 Articles
72 Articles
Commerce Department Expands Steel, Aluminium Tariffs to More Products
The Commerce Department on Friday added hundreds of derivative products that will be subject to the 50 percent tariffs President Donald Trump imposed on steel and aluminum imports. The Department’s Bureau of Industry and Security stated that it was adding 407 Harmonized Tariff Schedule of the United States (HTSUS) codes to the list of steel or aluminum derivative products. Tariffs on the steel and aluminum derivative products will apply to items…
Donald Trump has once again talked about imposing tariffs. Know on which sector he will impose tariffs now
Trump teases semiconductor tariffs as high as 300%
New economic data shows tariffs are beginning to hit U.S. consumers. But that is not stopping Donald Trump from leaning even harder into the levies. Today, the President teased semiconductor tariffs as early as next week, that could reach up to 300%. Justin Wolfers joins The 11th Hour to discuss.
US Commerce Dept. widens products subject to steel, aluminum tariffs
(Reuters) -The Trump administration on Friday widened the reach of its 50% tariffs on steel and aluminum imports by adding hundreds of derivative products to the list of goods subject to the levies.
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