US EditionTrump 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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