Trump administration reportedly considering ‘new round of sweeping tariffs on semiconductors’ – business live
Summary
The Trump administration is planning to introduce new tariffs on semiconductor products and related tech devices like laptops and gaming consoles. This move aims to boost U.S. chip manufacturing but faces concerns from tech companies about its impact on America's leadership in artificial intelligence.Key Facts
- The administration wants to impose tariffs not just on chips but also on many tech products made with chips.
- Commerce Secretary Howard Lutnick supports linking tariff relief to foreign companies investing in U.S. chip production.
- A gradual phase-in of the tariffs is being considered.
- The plan is still being developed and may change in the coming weeks or months.
- Technology companies warn these tariffs could slow down progress in artificial intelligence.
- The tariffs are part of efforts to encourage more chip manufacturing domestically in the U.S.
- The reported information comes from multiple sources cited by Politico.
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