Trump: Will Impose About 100% Tariff on Chips, Exemption for Domestic Manufacturing

According to Jinse Finance, Trump stated that he will impose a 100% tariff on imported goods containing semiconductors, but will grant exemptions to companies that set up production in the United States. “We will impose very high tariffs on chips and semiconductors, but there is good news for companies like Apple: if you are building a factory in the United States, or have made an unequivocal commitment to do so, you will not have to pay any fees. In other words, we will impose about a 100% tariff on chips and semiconductors. But if you are building a factory in the U.S., you won’t have to pay. Even if large-scale production hasn’t really started yet, as long as construction is underway, you won’t have to pay.” Trump also said that as early as next week, independent tariffs may be imposed on all products containing semiconductor chips.