US weighs a new round of tariffs on semiconductors, Politico reports
FILE PHOTO: Semiconductor chips are seen on a printed circuit board in this illustration picture taken February 17, 2023. REUTERS/Florence Lo/Illustration/File Photo
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Aug 27 : The Trump administration is considering a new round of sweeping tariffs on semiconductors, Politico reported on Thursday citing eight people familiar with discussions.
A new tariff proposal could tax a wider range of tech goods. Instead of just targeting microchips, the duties would also apply to products that use them, such as laptops, gaming consoles, and data center servers, the report said.
Commerce Secretary Howard Lutnick favors a structure that will tie foreign companies’ relief from the tariffs to investment in U.S. chip manufacturing to boost local production, the report said.
Washington is also mulling a phase-in period for the new tariffs and the framework could still be substantially revised in the coming weeks or months, Politico reported.
Reuters could not immediately verify the report. The White House and the U.S. Commerce Department did not immediately respond to requests for comment.
U.S. Trade Representative Jamieson Greer said in May there were no imminent new U.S. tariffs expected to be imposed on semiconductors, but that it was important to protect the sector with duties to facilitate reshoring of chip production.
Source: Reuters
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