Trump Teases Tariffs on Foreign Chips in the 'Next Week or So'
In an interview with CNBC, Trump indicated he'll introduce tariffs on semiconductors as soon as next week, alongside other duties targeting imports, such as pharmaceuticals.
"And within the next week or so, we're going to be announcing tariffs specifically. This is a separate class than the 15% tariffs on sort of everything,' he said, referencing the tariffs he announced last week on goods from the European Union, Japan, and over a dozen other markets.
"We're going to be announcing [tariffs] on semiconductor and chips, which is a separate category because we want them made in the United States," Trump added.
The president didn't provide details or say if any exemptions will be granted. But the policy will no doubt raise concerns about increased costs for PC processors and a wide variety of electronics that use foreign-made chips. Currently, Apple, AMD, Qualcomm, Nvidia, and even Intel source at least some chip production from Taiwan's TSMC.
Although TSMC has started chip production at its first fab in Arizona, a bulk of its semiconductor production is still based in Taiwan. As a result, the contract chip maker urged the Trump administration in May to exempt the company from such tariffs, which it fears will threaten US chip demand. 'It could also undermine TSMC's financial capacity to timely execute its ambitious Arizona project,' the company said, which includes plans for six fabs in the state.
In April, Trump exempted chips, smartphones, and laptops from his "reciprocal tariffs' on China. But at the same time, the Trump administration signaled it would eventually tariff Chinese-made electronics separately through a special category of duties.
'We are taking a look at Semiconductors and the WHOLE ELECTRONICS SUPPLY CHAIN in the upcoming National Security Tariff Investigations,' Trump posted on Truth Social at the time. 'What has been exposed is that we need to make products in the United States, and that we will not be held hostage by other Countries, especially hostile trading Nations like China.'
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