Trump announces tariffs on semiconductors, computer chips and pharmaceuticals imported from Taiwan
In his speech to the House GOP Issues Conference held in Miami, Trump stated that manufacturers don’t also need incentives to build their chip plants in the U.S. He said he would end Joe Biden’s program that paid subsidies to chip manufacturers like Intel in order to build factories in the U.S. The Consumer Technology Association (the lobbying group of the U.S. electronic industry) warned that tariffs would increase the price of consoles by $1,000. “In the very near term, we will be imposing tariffs on foreign computer chips, pharmaceuticals, and semiconductors in order to bring production back to the United States of America,” Trump stated. We want them to come back and we won’t give them billions of dollars like this ridiculous program that Biden has. And we want them to come back and we won’t to give them billions of dollars like this ridiculous program that Biden has.”
The bipartisan-supported Chips & Science Act earmarked $52 billion in subsidies to enable companies to build factories in the U.S. Intel, TSMC, Coherent and Analog Devices were among the companies receiving grants from the Biden administration.
” Give everybody billions of dollars. Give everyone billions. Joe, they’ve got nothing else but money. Trump said, “They didn’t require money.” They needed an incentive. The incentive will be that they won’t want to pay 25, 50, or even 100% in tax. They will build the factory themselves. We don’t need to give them any money. You give them money and they don’t know what to do with it. The group said that the act’s manufacturing incentives have sparked substantial announced investments in the U.S. The group stated that the act’s manufacturing incentive has sparked significant announced investments in the U.S. The announced projects are expected to create over 58,000 jobs within the semiconductor industry and hundreds of thousands more in other parts of the U.S. The 203% projected growth is the highest projected percentage increase in the entire world for that period. VB Daily offers daily insights on business cases. We provide you with the latest information on generative AI from regulatory changes to practical implementations so that you can maximize your ROI.
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