U.S. President Donald Trump on Friday disclosed plans to impose tariffs on imports of steel and semiconductor chips in the coming weeks, a move he said was aimed at boosting domestic manufacturing. Speaking aboard Air Force One en route to a meeting with Russian President Vladimir Putin in Alaska, Trump explained that the tariffs would start at lower rates to give companies time to establish local production before rising sharply later. He said the approach would mirror similar measures proposed for the pharmaceutical sector, though he did not specify the exact rates.
The president expressed confidence that businesses would prefer to set up manufacturing operations in the United States rather than face high tariffs. Trump has previously disrupted global trade flows by introducing steep duties on a wide range of imports, alongside targeted levies on key sectors such as the automotive industry. In February, he increased tariffs on steel and aluminum to 25% before announcing in May that the rates would be doubled to 50% in a bid to support U.S. manufacturers.
It remains unclear whether the latest remarks signal another round of increases for steel and aluminum imports. However, Trump recently stated he would enforce a 100% tariff on imported semiconductors, with exemptions for companies that commit to building manufacturing capacity within the country. The policy is intended to curb reliance on foreign supply chains and secure critical industries.
Trump’s latest tariff comments coincided with news that technology giant Apple would invest an additional $100 billion in its U.S. operations. The White House has hailed such corporate investments as proof that the administration’s trade and industrial policies are prompting major firms to expand domestically, a trend Trump says he wants to accelerate through aggressive tariff measures