Trump says specific tariff will be placed on semiconductor industry, rate to be announced within week
1. Trump announced new tariffs on semiconductor imports, rate coming soon. 2. Goal is to boost U.S. semiconductor production and reduce reliance on foreign countries. 3. U.S. had a $322 million trade deficit in semiconductors in January 2023. 4. China reciprocated with a 125% tariff on U.S. imports amidst ongoing trade tensions. 5. Trump emphasizes not being reliant on foreign nations for critical components.