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Trump: Set to Impose Semiconductor Tariffs, Possibly Up to 300%
BlockBeats News, August 15th, President Trump of the United States stated that he will impose tariffs on semiconductors in the next two weeks, the latest sign that he is preparing to significantly expand the tariff system.
Trump said on Friday on Air Force One on his way to a summit with Russian President Putin in Alaska, "I will determine the tariffs on steel and chips next week and the week after. What I want to say is about chips and semiconductors. We will determine it next week or sometime in the following weeks." It is currently unclear whether Trump misspoke on the steel tariff issue. He had already raised import tariffs on steel and aluminum to 50% in June. The President has repeatedly promised to impose tariffs on chips and drugs in the coming weeks but has not made a formal announcement yet.
Furthermore, Trump also hinted that the tariffs on imported semiconductors may be even higher, saying, "The tariff rate I intend to set could be 200%, or perhaps 300%?" (Golden Finance)
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