Trump vows tariffs on semiconductor imports
The post Trump vows tariffs on semiconductor imports appeared on BitcoinEthereumNews.com. President Donald Trump stated that semiconductor imports will soon face tariffs, with possible carve-outs for firms like Apple that have pledged significant investment in the U.S. economy. On Thursday, he noted Tim Cook’s company should be largely protected from import duties, given their promises to boost its U.S. operations, saying, “Tim Cook would be in pretty good shape.” Trump says companies entering the U.S. or making further investments would be exempt During a White House dinner with a select group of top technology company leaders, including Cook, the president addressed reporters. He commented, referring to chips and semiconductors, “We’ll be putting a tariff very shortly. You probably are hearing we’ll be putting a fairly substantial tariff, or not that high, but a fairly substantial tariff.” However, he clarified that businesses entering the U.S. market or expanding their presence would be exempt from import duties. Earlier last month, the American President announced they would implement a 100% tariff on semiconductor imports and even then still made promises to exempt Apple, considering its additional $100 billion investment pledge. Overall, the tech giant intends to channel $600 billion into domestic manufacturing over the next four years. Moreover, it asserted it would bring a greater share of its supply chain and high-tech manufacturing to the United States under its American Manufacturing Program (AMP), partnering with firms like Corning, Applied Materials, and Texas Instruments. It also announced that Corning will commit a full factory in Kentucky to Apple glass production and increase headcount at the site by 50%. Nevertheless, Trump claimed that firms making comparable investment pledges to Apple would avoid chip tariffs, though a separate levy will still target electronics products that rely on semiconductors. He had also previously floated the idea of setting tariffs at more than 100%, with potential levels as high…
The post Trump vows tariffs on semiconductor imports appeared on BitcoinEthereumNews.com.
President Donald Trump stated that semiconductor imports will soon face tariffs, with possible carve-outs for firms like Apple that have pledged significant investment in the U.S. economy. On Thursday, he noted Tim Cook’s company should be largely protected from import duties, given their promises to boost its U.S. operations, saying, “Tim Cook would be in pretty good shape.” Trump says companies entering the U.S. or making further investments would be exempt During a White House dinner with a select group of top technology company leaders, including Cook, the president addressed reporters. He commented, referring to chips and semiconductors, “We’ll be putting a tariff very shortly. You probably are hearing we’ll be putting a fairly substantial tariff, or not that high, but a fairly substantial tariff.” However, he clarified that businesses entering the U.S. market or expanding their presence would be exempt from import duties. Earlier last month, the American President announced they would implement a 100% tariff on semiconductor imports and even then still made promises to exempt Apple, considering its additional $100 billion investment pledge. Overall, the tech giant intends to channel $600 billion into domestic manufacturing over the next four years. Moreover, it asserted it would bring a greater share of its supply chain and high-tech manufacturing to the United States under its American Manufacturing Program (AMP), partnering with firms like Corning, Applied Materials, and Texas Instruments. It also announced that Corning will commit a full factory in Kentucky to Apple glass production and increase headcount at the site by 50%. Nevertheless, Trump claimed that firms making comparable investment pledges to Apple would avoid chip tariffs, though a separate levy will still target electronics products that rely on semiconductors. He had also previously floated the idea of setting tariffs at more than 100%, with potential levels as high…
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