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Yahoo
27 minutes ago
- Yahoo
Trump says semiconductors will face 100% tariff unless companies build in US
President Trump said that he will implement a 100% tariff on semiconductors manufactured overseas unless the companies have committed to build in the US. Trump made the announcement during a press event in the Oval Office alongside Apple (AAPL) CEO Tim Cook who was on hand to unveil an additional $100 billion investment in research and manufacturing in the US. "The good news for companies like Apple is, if you're building in the United States, or have committed to build, without question, committed to build in the United States, there will be no charge," Trump said. The semiconductor tariff is a part of the Trump administration's Section 232 national security investigation into chip manufacturing. According to Trump, if a company says it will build in the US, but doesn't, it will once again face tariffs as well as back tariffs. The tech industry has been waiting on tenterhooks to find out what semiconductor tariffs would look like, and whether they would apply to individual semiconductors or to chips built into devices. Additional tariffs could drive up the price of everything from smartphones and laptops to home electronics and more. Apple also is also expected to dodge Trump's newest tariffs on India, which could reach as much as 50% in three weeks, with a White House official saying that the company wouldn't have to deal with the bulk of the tariffs. Email Daniel Howley at dhowley@ Follow him on X/Twitter at @DanielHowley. Sign in to access your portfolio
Wall Street Journal
29 minutes ago
- Wall Street Journal
Trump Targets Russia via India
President Trump wants at long last to raise the pressure on Russia for a cease-fire in Ukraine, and on Wednesday he threatened India with a 50% tariff if it keeps buying Russian oil. The puzzle is why the President is so far giving China a pass, though Beijing buys more Russian oil than does New Delhi. The new tariff is included in an executive order 'Addressing Threats to the United States by the Government of the Russian Federation.' India is a target because its purchases of Russian oil are a major source of revenue for Vladimir Putin's war machine. India has long bought Russian crude, but its purchases since Russia invaded Ukraine have increased enormously and help Mr. Putin continue his deadly rampage. India has 'always bought a vast majority of their military equipment from Russia, and are Russia's largest buyer of ENERGY, along with China, at a time when everyone wants Russia to STOP THE KILLING IN UKRAINE,' Mr. Trump wrote on Truth Social. The executive order would add a 25% tax on India's exports to the U.S. in three weeks if India doesn't adjust its policy. This would be on top of the 25% tariff that Mr. Trump has already applied to imports from India and is set to begin Thursday. Through June this year, India exported some $56.3 billion in goods to the U.S., making it the twelfth largest U.S. trading partner. The exports include medical products, generic drugs and telephones, among other things.
New York Times
29 minutes ago
- New York Times
Trump Directed His Wrath at India
President Trump announced today that he would double U.S. tariffs on goods imported from India to 50 percent, as punishment for the country's continued purchase of Russian oil. The move was a sharp escalation in a sudden trade war between the world's two largest democracies, which had both seemed to be enjoying the friendship that their leaders had forged. The U.S. and its businesses had long viewed India as a counterweight to China and a potential haven for trade, as Trump promised to ramp up tariffs on Chinese products. Trump's onslaught began last week, when he declared India's economy 'dead.' Until that time, his administration had been angling to reduce India's trade barriers. Now India is keeping company with Brazil, whose leftist president Trump considers a political enemy. India's foreign ministry called Trump's planned tariffs 'extremely unfortunate' and reiterated that it was importing oil from Russia to meet the energy needs of its 1.4 billion people. Here's what to know about India's oil trade with Russia. In other Trump news: The president said that he would put a 100 percent tariff on semiconductors unless manufacturers commit to building in the U.S. Trump announced that Apple had pledged to invest an additional $100 billion in U.S. production. Trump has discussed interceding in the New York City mayor's race to try to stop Zohran Mamdani. Trump named Vice President JD Vance as the MAGA movement's most likely heir 'at this point.' To understand how the president's budget cuts will impact some states, consider New Mexico. Trump said he intends to meet with Putin and Zelensky During a call today with European leaders, Trump said he intends to meet in person with Vladimir Putin as soon as next week. He told the European officials that he would follow up shortly afterward with a meeting between himself, Putin and President Volodymyr Zelensky of Ukraine. The meetings would include only those three, according to people familiar with the discussion. The European leaders, who have tried to play a coordinating role during peace talks, appeared to accept Trump's plan, though it was not immediately clear if Putin or Zelensky had agreed to the meetings. In related news, Steve Witkoff, Trump's envoy, met with Putin today for the fifth time this year. China turned to A.I. to further information warfare The Chinese government is using companies with expertise in artificial intelligence to monitor and manipulate public opinion in Hong Kong and Taiwan, according to current and former U.S. officials and documents. Internal documents from the Chinese company GoLaxy show how Beijing undertook influence campaigns in Hong Kong and Taiwan and collected data on members of the U.S. Congress and other influential Americans. Experts said that China's use of A.I. in this way could result in far more sophisticated influence operations. Uber has a festering sexual assault problem Between 2017 and 2022, Uber received reports from riders in the U.S. of sexual assault or sexual misconduct almost every eight minutes on average. The ride-sharing company has not disclosed more recent data, though court records indicate that reports of such incidents have increased. The company has tested tools that have proved effective at making trips safer. But, according to documents and interviews with employees, some have been set aside in favor of protecting the company's interests, such as requiring cameras in cars, largely because it might classify drivers as employees instead of independent contractors. In the video above, my colleague Emily Steel discusses her investigation. More top news Georgia: Five soldiers who were shot at Fort Stewart-Hunter Army Airfield were taken to a hospital, and a suspect was taken into custody. Middle East: Prime Minister Benjamin Netanyahu plans to convene his security cabinet tomorrow to discuss expanding Israel's military campaign into the rest of Gaza. Politics: Republican Senator Marsha Blackburn of Tennessee, a loyal Trump ally, said that she would run for governor. Ukraine: Thousands of people are struggling with the trauma of severe facial injuries, but the country's doctors have made strides by using 3-D printing in facial reconstruction. Business: Fire retardant is an indispensable tool for fighting more frequent and intense wildfires. But one company controls the entire U.S. supply. Crime: In the three years before the Park Avenue shooting, law enforcement in Nevada had twice asked that the gunman be committed to a mental health facility. Italy: After 50 years of proposals, there are plans to link Sicily to the mainland of Italy by a bridge. Remembering Hiroshima The U.S. dropped an atomic bomb on Hiroshima, Japan, 80 years ago today. The bombing, which took place on Aug. 6, 1945, and that of Nagasaki three days later, instantly left the two cities void of their color and life. These photos captured the excruciating aftermath of the bombings in stark black and white. Take a look. After 10 years, 'Hamilton' has left its imprint on Broadway Lin-Manuel Miranda's much-loved musical 'Hamilton' opened on Broadway a decade ago today. Since then, it has sold more than four million tickets, pulled in more than $1 billion and dramatically altered American musical theater. My colleagues on our Culture desk wrote about nine ways in which Miranda's portrait of a founding father transformed casting, marketing, pricing and even stardom on Broadway. Lindsey Vonn has become a folk hero for many aging Americans After the ski-racing star Lindsey Vonn announced last year that she was coming out of retirement at the age of 40, she noticed a change. People who didn't know or care about skiing began approaching her to express their admiration. With her eyes on next year's Olympics, Vonn has become a hero of sorts to those who believe in not letting age hold them back. If she is successful, Vonn would become the oldest ski racer, man or woman, ever to win a medal. 'The cultural shift in how we view age is already happening,' Vonn said, 'Hopefully I'm helping the shift — and not just in sports.' Dinner table topics Passionate shoppers: Aldi, the discount grocer, is rapidly expanding as a result of its cultlike following. Memorable moments: The Las Culturistas Culture Awards featured countless jokes, ridiculous outfits and just a touch of sincerity. World-renowned: London's blockbuster Indian restaurants are coming to America. Plenty of space: You could buy a Wyoming ranch four times the size of New York City for $79.5 million. Bake: In these cookies, the white chocolate and raspberry flavors provide just the right balance. Watch: These are some of the best movies and TV shows coming soon to Netflix. Read: 'Tart' is a spicy and delectable memoir by an anonymous chef. Listen: These tunes will make you love Roy Hargrove. Prepare: Here are Wirecutter's back-to-school favorites for all ages. Consider: Dentists know that you hate flossing. Try this instead. Play: Here are today's Spelling Bee, Wordle and Mini Crossword. Find all our games here. The final love token from a dinosaur whisperer Over nearly four decades, the paleontologist Barry James and his wife, April, built a fossil business from the ground up. It all culminated with an offer to reconstruct a triceratops skeleton with an astounding collection of bones, perhaps the largest ever found. But April died last year, before the project was completed. In his bereavement, James stopped working. But then he had an idea: He decided to honor his wife's memory by finishing the triceratops, and insisting that whoever buys the fossil name it 'April.' 'Even if a collector is offering $100 million to name it after his son or daughter, I am not selling,' James said. Have a loving evening. Thanks for reading. I'll be back tomorrow. — Matthew Philip Pacheco was our photo editor. We welcome your feedback. Write to us at evening@
