Trump Targets Foreign Microchips With Tariffs as High as 300%
WASHINGTON — President Donald Trump says he will impose steep tariffs on imported semiconductors — the microchips essential to modern electronics within the next two weeks.
The announcement came during an in-flight press briefing aboard Air Force One on Friday, as Trump traveled to Alaska for a summit with Russian President Vladimir Putin.
Outlining his intentions to expand trade protections, Trump told reporters that new levies would target both steel and semiconductors.
“I will be setting tariffs next week and the week after, on steel and on, I would say chips — chips and semiconductors,” he said.
While steel tariffs were already raised to 50 percent in June, it remains unclear whether Trump was signaling additional hikes or reiterating previous actions.
The semiconductor and pharmaceutical sectors have been under Commerce Department investigation since April — a required step before tariffs can be imposed on national security grounds.
Though no formal decisions have been announced, Trump has repeatedly indicated that duties on both industries are imminent.
During a recent meeting with Apple Chief Executive Officer Tim Cook, Trump proposed a 100 percent tariff on semiconductors.
He also suggested that companies relocating production to the United States could be exempt from the new charges.
On Friday, he floated an even higher rate, telling reporters, “I am going to have a rate that is going to be 200 percent, 300 percent?”
The White House has not yet clarified how exemptions would be applied.
However, Trump implied that Apple — which has pledged a $600 billion domestic manufacturing initiative could qualify for relief.
“We will be setting tariffs sometime next week, week after,” he added.
According to a report published by Bloomberg, Intel shares rose nearly 6 percent following Trump’s remarks, while other chip stocks declined.
Analysts believe Intel may benefit from a potential deal with the administration, possibly involving CHIPS Act funding.
The administration has also secured revenue-sharing agreements with Nvidia and AMD in exchange for export licenses to resume sales of AI chips to China.
Trump said he may raise the issue of tariffs during his meeting with Putin.
He noted that the Russian leader plans to bring business executives to the summit.
“I noticed he is bringing a lot of business people from Russia, and that is good — I like that because they want to do business. But they are not doing business until we get the war settled,” Trump said.
With semiconductors at the heart of global technology and supply chains, industry leaders are urging the administration to clarify its tariff framework.
The stakes are high, and the timeline is short.
