Trump Says US Will Have 50% Of Chip Industry By The Time He Leaves Office, Threatens Tariffs Of Over 200% Otherwise
Synopsis
Addressing reporters during a bilateral meeting with the Emir of the State of Qatar, Trump slammed the Biden administration’s CHIPS Act, calling it a disaster.
President Donald Trump on Tuesday said that the U.S. will have 50% of the chip industry by the time he leaves office at the end of the current term in 2029.
Addressing reporters during a bilateral meeting with the Emir of the State of Qatar, Trump slammed the Biden administration’s CHIPS Act, calling it a disaster.
He also threatened to impose tariffs exceeding 200% if chip makers failed to reshore semiconductor manufacturing to the U.S.
“We have a different system. We have a system that if they don’t build… they have to pay tariffs of upwards of 200%. They don’t have to pay anything for a little while,” he said.
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