President Donald Trump announced on Friday that he will impose new tariffs on imported steel next week, with another round of tariffs on semiconductor chips to follow the week after. The president revealed the plan to reporters on Air Force One as he was flying to a meeting with Russian President Vladimir Putin in Alaska.
“I’ll be setting tariffs next week and the week after on steel and on, I would say, chips,” Trump said.
The move is the latest in Trump’s ongoing effort to protect and boost American manufacturing. He explained that the tariffs will start at a lower rate to give companies time to build up their domestic production capabilities. The rates will then rise over time, though he did not provide any specific numbers.
This announcement is a clear signal that the Trump administration is continuing its aggressive trade policies, even as it navigates complex international relations. The new tariffs are likely to have a major impact on a wide range of industries that rely on imported steel and computer chips, and they are sure to be a major topic of discussion in the business world and with America’s trading partners in the weeks to come.
