By Hadriana Lowenkron, Catherine Lucey, and Ian King
Donald Trump said he would impose a 100% tariff on semiconductor imports, though would exempt companies moving production back to the United States, as Apple Inc. CEO Tim Cook and the president announced a fresh $100 billion investment plan from the Oval Office.
“We’re going to be putting a very large tariff on chips and semiconductors, but the good news for companies like Apple is, if you’re building in the United States, or have committed to build, without question, committed to build in the United States, there will be no charge,” Trump told reporters.
“So in other words, we’ll be putting a tariff of approximately 100% on chips and semiconductors. But if you’re building in the United States of America, there’s no charge,” Trump said. “Even though you’re building and you’re not producing yet, in terms of the big numbers of jobs and all of things building, if you’re building, there will be no charge.”
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