Trump to Impose New Tariffs on Steel and Semiconductor Chips
U.S. President Donald Trump announced on Friday that he will introduce new tariffs on imported steel next week. The following week, he plans to apply tariffs on semiconductor chips.
Speaking to reporters aboard Air Force One on his way to Alaska for a meeting with Russian President Vladimir Putin, Trump outlined the timeline for the measures.
The president said the initial tariff rates would be set at lower levels to encourage companies to build domestic manufacturing facilities in the United States. He added that these rates would rise over time, but he did not provide exact percentages for either the starting or future rates.
