Trump Announces Phased Tariffs on Steel and Semiconductor Chips to Boost Domestic Manufacturing

President Donald TRUMP revealed plans to impose tariffs on steel and semiconductor chip imports, targeting key industries as part of a broader push to revitalize U.S. manufacturing. The phased approach will start with lower rates before escalating, giving companies time to establish domestic operations.

Speaking to reporters en route to meet Russian President Vladimir Putin, Trump confirmed tariffs WOULD roll out over two weeks. "I'll be setting tariffs next week and the week after on steel and on chips," he said aboard Air Force One. The strategy mirrors his administration's protectionist trade policies, though specific rate details remain undisclosed.

The semiconductor industry faces particular scrutiny as global supply chain vulnerabilities persist. Trump's graduated tariff structure—described as "lower at the beginning" before becoming "very high after a certain period"—aims to compel foreign manufacturers to localize production. Market analysts anticipate Ripple effects across technology and industrial sectors.