Tariffs

Trump Says Tariffs on Chip Imports Coming, Could Reach 300 Percent

The president hinted that more tariffs could be arriving for steel.
Trump Says Tariffs on Chip Imports Coming, Could Reach 300 Percent
Semiconductor chips on a printed circuit board, in this illustration picture taken on Feb. 17, 2023. Florence Lo/Reuters
Andrew Moran
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President Donald Trump said he will announce new tariffs on imports of chips and semiconductors as he kicks his trade agenda into the next gear.

Speaking to reporters aboard Air Force One on Aug. 15, the president stated that the tariff rate would initially be lower. After a while, if businesses have not built their factories in the United States, “they have to pay a very high tariff,” he said.

Andrew Moran
Andrew Moran
Author
Andrew Moran has been writing about business, economics, and finance for more than a decade. He is the author of "The War on Cash."