Trump To Impose Tariffs On Semiconductor Imports From Firms Not Moving Production To US

An anonymous reader quotes a report from Reuters: President Donald Trump said on Thursday his administration would impose tariffs on semiconductor imports from companies not shifting production to the U.S., speaking ahead of a dinner with major technology company CEOs. 'Yeah, I have discussed it with the people here. Chips and semiconductors -- we will be putting tariffs on companies that aren't coming in. We will be putting a tariff very shortly,' Trump said without giving an exact time or rate.

'We will be putting a very substantial tariff, not that high, but fairly substantial tariff with the understanding that if they come into the country, if they are coming in, building, planning to come in, there will not be a tariff,' Trump told reporters. 'If they are not coming in, there is a tariff,' Trump said in his comments on semiconductors. 'Like, I would say (Apple CEO) Tim Cook would be in pretty good shape,' he added, as Cook sat across the table. Further reading: Trump Basks in Tech Leaders' Spending Vows at White House Dinner

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