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Trump 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.
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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.
·Denver, United States
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US President Donald Trump announced yesterday on the Air Force One board that he will introduce new tariffs on steel and steel imports in the following weeks, reports Reuters. The head of the White House has specified...
·Romania
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Coverage Details
Total News Sources65
Leaning Left8Leaning Right5Center11Last UpdatedBias Distribution46% Center
Bias Distribution
- 46% of the sources are Center
46% Center
L 33%
C 46%
R 21%
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