President Trump's Announcement on Semiconductor Tariffs
President Donald Trump has revealed intentions to implement tariffs approaching 100% on imported semiconductors, during a press briefing at the White House on Wednesday. He did not specify the timeline for the tariffs' enforcement or when official documentation would be issued.
Current Investigations into Semiconductor Imports
Currently, the Trump administration is conducting a Section 232 investigation into semiconductor imports to evaluate their implications for national security and the U.S. supply chain. Past investigations under Section 232 have resulted in targeted tariffs on steel, aluminum, and copper.
Potential Tariffs on Pharmaceuticals
On Tuesday, President Trump mentioned that duties on semiconductors and pharmaceuticals would be announced within the following week. He also noted that pharmaceutical imports, under review, could face tariffs of up to 250%.
Other Section 232 Investigations
The White House is also exploring other Section 232 investigations into critical minerals, commercial aircraft, jet engines, and heavy-duty trucks and their components.