President Trump Announces Imminent Chip Tariffs

US President Donald Trump announced on April 3 that tariffs would soon be imposed on semiconductor products. This decision came after the exclusion of semiconductors and pharmaceuticals from the geographical "reciprocal tariffs" announced on April 2. The reciprocal tariffs, set to take effect on Saturday, April 5, include a 25 percent tariff on imported automobiles.

During a flight to Miami, Florida, President Trump addressed questions from reporters regarding the tariffs on chips and pharmaceuticals. He confirmed that chip tariffs would be implemented very soon, while pharmaceutical tariffs were still under review. President Trump hinted that the pharmaceutical tariffs would be unprecedented and set at levels never experienced before.

President Trump had previously expressed his intention to impose tariffs on chips, with rates potentially ranging from 25 to 100 percent. The looming tariffs on semiconductor products have raised concerns within the tech industry, as they could impact the supply chain and lead to increased costs for consumers.

The exclusion of semiconductors from the initial tariff announcement on April 2 had provided a temporary relief for the industry. However, with the latest statement from President Trump, semiconductor manufacturers and tech companies are bracing themselves for the impact of the upcoming tariffs.

As the trade tensions between the US and other countries continue to escalate, the uncertainty surrounding tariffs on semiconductor products adds another layer of complexity to the global economy. Industry experts are closely monitoring the situation and assessing the potential implications for the semiconductor market in the coming months.