Trump eyes triple-digit tariff on chips, semiconductors
The president plans to impose tariffs on semiconductor imports within the next two weeks, according to a Friday report
Image: Homepros via Unsplash
President Trump plans to impose tariffs on semiconductor imports within the next two weeks, potentially at a rate of up to 300 percent, Bloomberg reported Friday.
Why it matters: Semiconductors are everywhere — from smart thermostats to control boards, to name a couple in HVAC — and over 85 percent of global semiconductor manufacturing happens outside the U.S.
What’s happening: “[O]n… chips — chips and semiconductors, we’ll be setting sometime next week, [or the] week after,” Trump told reporters aboard Air Force One on Friday. “I’m going to have a rate that is going to be 200%, 300%”
- Zoom out: The president’s comments come just one week after he floated an initial 100 percent tariff on all chips and semiconductors coming into the U.S.
But, but, but: Despite his suggestions, no rate has been set in stone, and several details remain unclear, including whether tariffs would apply to semiconductors embedded in products imported as complete assemblies, along with other possible exemptions.
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