President Trump stated on Thursday that a “fairly substantial” tariff on semiconductors will be introduced in the near future.
The announcement was made during a dinner with technology industry leaders at the White House, where Trump took questions from reporters regarding potential trade measures.
Trump mentioned that he had discussed the proposed tariff with some of the tech executives attending the event. He stressed that the United States would impose tariffs on companies that fail to establish operations within the country.
When asked about the potential impact on individual companies, Trump suggested that Apple (NASDAQ:AAPL) CEO Tim Cook would be in “good shape” if the tariff is put into effect.
The president did not provide further details on the exact tariff rate, the timeline for its rollout, or which countries or firms might be affected.
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