Trump vows 'fairly substantial' semiconductor tariffs soon
WASHINGTON
U.S. President Donald Trump said the United States will soon put a "fairly substantial tariff" on semiconductors coming into the country, after previously threatening a 100-percent levy on the chips.
"We will be putting a tariff very shortly," Trump said at a White House dinner with tech industry executives.
"Not that high, but fairly substantial tariff."
He did not give a timetable or details for the new levy, which he has repeatedly threatened in the past, to be enacted.
Trump in early August sparked volatility in Asian chipmaker shares with talk of a 100-percent tariff on semiconductors from firms that do not invest in the United States.
"We'll be putting a tariff of approximately 100 percent on chips and semiconductors, but if you're building in the United States...there's no charge," Trump said at the time.
The United States and China are locked in a high-stakes race to develop the high-end semiconductors used to power artificial intelligence systems.
Meanwhile, Trump signed an order to lower tariffs on Japanese autos, as Washington moves to implement its trade pact negotiated with Tokyo.
Japanese autos will face a 15-percent tariff instead of the current 27.5 percent, while the level for many other goods will similarly be capped at 15 percent, according to the text of the executive order published by the White House.
The outcome marks a win for Japan, after Tokyo's tariff envoy headed to Washington on Thursday to press Trump to sign the document for the changes, weeks after both sides announced their agreement.
