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Trump Announces Upcoming Semiconductor Tariffs, Potential Rates Up to 300%
Trump Announces Upcoming Semiconductor Tariffs, Potential Rates Up to 300%
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BTCCSquare news:
President TRUMP revealed plans to impose tariffs on semiconductor imports within the next two weeks, with rates potentially reaching 300%. The announcement follows earlier suggestions of 100% tariffs on chips, signaling an aggressive expansion of his trade policy. Wholesale inflation data for July showed the sharpest rise in three years, marking the first significant economic impact of the tariffs.
Market reactions remain muted, with U.S. stock indices hitting record highs despite the trade tensions. Tariff revenue has surged into the billions, though economists warn consumers are already absorbing some costs through higher prices. Pharmaceutical tariffs are expected to follow in the NEAR future.
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