The president says he’ll impose a ‘tariff of approximately 100%’ on chips and semiconductors, far higher than the 25% rate he talked about in February.
President Trump’s tariffs on foreign chips will reach a whopping 100%, according to remarks he made on Wednesday.
“We’ll be putting a tariff of approximately 100% on chips and semiconductors,” Trump said in the Oval Office. “But if you’re building in the United States of America, there’s no charge. »
Trump mentioned the tariff rate after announcing a new $100 billion investment from Apple to develop more manufacturing in the US. In February, Apple pledged to invest $500 billion over the next four years to create new manufacturing jobs in the country. It’s now expanding that to $600 billion, which « includes new and expanded work with 10 companies across America », CEO Tim Cook said in a statement.
The 100% tariff rate would be staggering, and risks raising costs for tech companies and consumers, depending on how the duties are implemented.
