Donald Trump revealed plans for significant tariffs, including a 100% tax on computer chips imported into the United States. This announcement follows his declaration of a 50% tariff on India. The implications of this move could be substantial, potentially driving up the cost of electronic goods, household appliances, vehicles, and digital devices.
Speaking to the press in the Oval Office, Trump clarified that the new tariffs would impact all incoming chips and semiconductors. However, companies already manufacturing in the US, or those in the process of establishing domestic manufacturing, would be exempt. Trump emphasized the importance of fulfilling manufacturing commitments, warning that failure to do so would result in the imposition of tariffs and retroactive payments.