Washington: President Donald J. Trump announced plans to implement a substantial tariff on chips and semiconductors unless their manufacturers increase their investment within the United States. The announcement was made during a speech at the White House, where President Trump stated that companies like Apple, which are building or have committed to build in the United States, would not be subject to these tariffs.
According to Kuwait News Agency, President Trump emphasized that the tariff, approximately 100%, would apply to chips and semiconductors entering the United States from abroad. However, he clarified that companies already investing in U.S. infrastructure would not face these charges, even if their production has not yet reached significant levels.
President Trump further stated that the move aimed to encourage companies to relocate their operations to the United States, thus fostering economic growth and job creation. He reiterated the importance of commitment to building within the country, noting that firms in the process of establishing U.S. facilities would also be exempt from the tariffs.
The President underscored the significance of the policy, pointing out that it had not been disclosed during internal discussions. He highlighted the potential impact of this decision, affirming that companies making a commitment to domestic investment would benefit from tariff exemptions.