Trump says he’ll announce semiconductor and chip tariffs

President Donald Trump announced plans to impose tariffs on semiconductors and chips as early as next week, though specific details about these tariffs have not yet been disclosed. This move could significantly disrupt U.S. hardware and AI companies, which rely heavily on semiconductor imports. Despite the U.S. producing only a small portion of the world’s chips, it remains home to many leading semiconductor companies. Efforts to boost domestic chip manufacturing have been underway since the 2022 CHIPS Act, which allocated $52 billion in subsidies to increase U.S. production capacity, with companies like Intel investing in new manufacturing facilities. The tariff announcement coincides with ongoing deliberations over AI chip export restrictions. The Trump administration has criticized the Biden administration’s multi-tiered export control rules introduced in May, which limit sales of advanced AI semiconductors to certain countries for national security reasons. In July, the Trump administration released a policy framework emphasizing the need for chip export restrictions but without detailed proposals. Recent reports suggest the Trump administration