Survival of the fittest: Donald Trump announces 100% duties on imported semiconductors
US President Donald Trump continues his aggressive economic policy, the main goal of which is to move the production of high-tech goods and components to the territory of the country.
During a meeting in the Oval Office, where it was announced Apple shifts strategy: $600bn on chips, AI and a future without China Trump made an important announcement.
Here's What We Know
The US President announced his intention to impose 100% import duties on microchips and semiconductors. He noted that companies that have production in the US or will undertake to build it will not be subject to new tariffs.
In this way, the authorities hope to reduce dependence on imported critical components and at the same time stimulate their own economy and provide additional jobs for their citizens.
South Korea's chief trade representative said that the largest chip maker Samsung Electronics and SK Hynix will not be subject to 100% duties, and South Korea will receive the most favourable duties on semiconductors under the trade agreement between Washington and Seoul.
That said, for nations such as Malaysia, the Philippines and Vietnam, Trump's decision could be a killer as their economies depend on US chip imports.
Source: Reuters
