US President Donald Trump revealed to reporters aboard Air Force One en route to Alaska for a summit with Russian President Vladimir Putin that he plans to impose tariffs on semiconductor products within the next two weeks, marking the latest expansion of his tariff policy framework.
Trump stated: “Next week and the week after, I will announce tariffs on steel, chips, and semiconductors.” In his latest remarks on Friday, Trump hinted that the actual tariff rate on imported semiconductors could far exceed the previously mentioned 100%. He asked reporters rhetorically: “Will my rate be 200% or 300%?”
Notably, Trump had already raised tariffs on steel and aluminum imports to 50% in June, but it remains unclear whether this move involves further adjustments to steel tariffs. Although the president has repeatedly promised to impose tariffs on the chip and pharmaceutical industries within weeks, no official announcement has been made yet.
Since April this year, the US Department of Commerce has launched investigations into the semiconductor and pharmaceutical industries, a necessary procedure for the Trump administration to impose tariffs on the grounds of “national security.” However, such investigations typically take months or longer and involve complex processes.
Given the widespread use of chips in consumer electronics and artificial intelligence, manufacturers and tech companies are eager to learn the specifics of Trump’s semiconductor tariff plan.
Last week, during a public event with Apple Inc. (AAPL.US) CEO Tim Cook, Trump stated his intention to impose a 100% tariff on imported semiconductors but promised exemptions for companies relocating production lines to the US. The White House has yet to release details on the exemption mechanism, but Trump hinted that Apple might qualify—the company has previously pledged $600 billion to advance its domestic manufacturing plan.
Additionally, the president mentioned that he would discuss tariff issues during his meeting with Putin and noted Russia’s plan to invite business leaders to attend: “I noticed he brought many Russian businessmen, which is good. I like their willingness to do business. But before the war issue is resolved, business cooperation is out of the question.”
Recently, Trump also threatened to escalate tariffs on buyers of Russian energy, including a pledge to impose a 50% tariff on Indian goods, and hinted at further economic pressure on Russia if the talks do not go well. These actions demonstrate how his tariff policies are extending from traditional trade areas to geopolitical maneuvering.
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