Trump says will set tariffs on steel and semiconductor chips next week
U.S. President Donald Trump announced plans to impose tariffs on steel imports next week and on semiconductor chips the following week. He stated that initial rates would be lower to encourage domestic manufacturing, with rates increasing later. Specific tariff rates were not disclosed during his remarks aboard Air Force One.
ABOARD AIR FORCE ONE, Aug 15 (Reuters) - U.S. President Donald Trump on Friday said he would set tariffs on imports of steel next week and on semiconductor chips the following week.
“I’ll be setting tariffs next week and the week after on steel and on, I would say, chips,” Trump told reporters aboard Air Force One as he headed to a meeting with Russian President Vladimir Putin in Alaska.
He said the rates would be lower at the start to allow companies to come and build up domestic manufacturing, rising later. He gave no exact rates.
