President Donald Trump said Tuesday he will unveil new tariffs on semiconductors and chips as soon as next week.
“We’re going to be announcing on semiconductors and chips, which is a separate category, because we want them made in the United States,” Trump said during a lengthy interview on CNBC’s “Squawk Box.”
Trump said that that announcement will come “within the next week or so.”
Global demand for semiconductors and microchips has skyrocketed as the technology has become integrated in virtually all sectors of the economy, including the booming artificial intelligence industry.
Trump revealed the tariff timeline days after he signed an executive order to impose new U.S. duties on a slew of countries’ imports, with some trading partners facing steep hikes.
But his remarks on CNBC on Tuesday morning emphasized that his tariff plans are far from finished.
Trump said in the same appearance that tariffs on imported pharmaceuticals could eventually reach up to 250%. He had previously said that those tariffs would top out at 200%.
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