Trump Teases 300% Chip Tariffs--Apple May Get a Pass, Others Could Pay Big
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Trump had earlier floated a 100% tariff on imported semiconductors, with possible exemptions for companies relocating manufacturing to the U.S. During a meeting last week with Apple (NASDAQ:AAPL) CEO Tim Cook, Trump hinted Apple could qualify for an exemption given its pledged $600 billion investment in domestic production. However, he offered no specifics on how those carve-outs would be structured. On Friday, he went further, suggesting duties could rise to 200%, 300%, adding uncertainty for chipmakers and artificial intelligence firms dependent on international supply chains.
The president also linked his tariff plans to geopolitical discussions, suggesting the topic could surface during his summit with Russian President Vladimir Putin. Trump noted that Russian business leaders would be attending the meeting but indicated that deeper trade cooperation would depend on progress toward ending the war in Ukraine. Meanwhile, Trump has continued threatening tariffs elsewhere, including a 50% levy on Indian goods and potential increases on Russian energy imports if talks stall. Investors watching the semiconductor space, including firms like Tesla (NASDAQ:TSLA) and Apple, are likely weighing how such moves could ripple through production costs and global sourcing strategies.
This article first appeared on GuruFocus.
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