U.S. President Donald Trump on Friday reaffirmed his intention to impose tariffs on steel imports and semiconductor chips in the coming weeks, as part of efforts to boost domestic manufacturing.
Speaking to reporters aboard Air Force One en route to Alaska for a meeting with Russian President Vladimir Putin, Trump said he would announce the tariff rates on steel next week, followed by those on chips. He noted that the initial rates would be relatively low to give companies time to build factories in the United States, with higher rates to follow later.
Trump had previously indicated that his administration was considering tariffs of up to 100% on imported semiconductor chips, while granting exemptions to companies that manufacture domestically or commit to building plants in the U.S.
The remarks came alongside Apple’s announcement of an additional $100 billion investment in its U.S. operations. Trump emphasized that companies like Apple would not face new tariffs as long as they remained committed to domestic production, warning, however, against attempts to evade these commitments.
The comments did not constitute an official tariff announcement, leaving uncertainty over how the measures might affect companies and countries worldwide. The remarks come just ahead of new U.S. tariffs—ranging between 10% and 50%—set to take effect on a wide array of goods. Meanwhile, the U.S. Department of Commerce continues a national security review of chip and tech product imports, with results expected by mid-August.
