Trump vows 100% tariff on chips, unless companies are building in the U.S.
UNITED STATES, AUG 6 – The tariff aims to enforce commitments to U.S. chip manufacturing amid rising global demand with sales up 19.6% year-over-year, officials said.
- On Wednesday, President Donald Trump announced a 100% tariff on all imported computer chips and semiconductors during a White House event with Apple CEO Tim Cook.
- Trump introduced the tariff to pressure companies to build manufacturing plants in the U.S. and exempted those already building or committed to building domestically, with no start date specified.
- Apple pledged $600 billion in new U.S. investments, and Trump warned that companies failing to fulfill manufacturing promises will be charged tariffs retroactively.
- Sales of computer chips increased 19.6% for the year ended June amid ongoing global demand and a pandemic-related chip shortage that raised inflation and auto prices.
- The tariff announcement departs from the bipartisan CHIPS Act's incentive approach and could raise prices on electronics and autos while encouraging domestic chip production.
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522 Articles
Trump's planned 100% computer chip tariff sparks confusion
AP — President Donald Trump’s ambiguous plans for 100-percent tariffs on computer chips that aren’t made in the US are stoking confusion among businesses and trading partners. This is boosting stocks for leading semiconductor companies while leaving smaller producers scrambling to understand the implications. “We are still waiting for official guidance,” said Limor Fried, founder and engineer at Adafruit Industries, a small electronics maker in …
Trump's planned 100% computer chip tariff sparks confusion among businesses and trading partners | Chattanooga Times Free Press
President Donald Trump's ambiguous plans for 100% tariffs on computer chips that aren't made in the U.S. are stoking confusion among businesses and trading partners — boosting stocks for leading semiconductor companies while leaving smaller producers scrambling to understand the implications.
Breitbart Business Digest: Trump’s New Chip Tariff Push Finds Support in Surprising Place
President Donald Trump this week said he is planning to impose a 100 percent tariff on imported computer chips unless manufacturers are also investing in U.S. production. The post Breitbart Business Digest: Trump’s New Chip Tariff Push Finds Support in Surprising Place appeared first on Breitbart.
Pioneer Press
Trump’s planned 100% computer chip tariff sparks confusion among businesses and trading partners
Trump's plan for 100% tariffs on non-U.S. computer chips is causing confusion among businesses and trading partners. The announcement, made Wednesday, has boosted stocks for major semiconductor companies but left smaller producers scrambling.
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