Trump plans new tariffs on semiconductors, promises flexibility for some companies

What just happened? On Sunday, President Donald Trump revealed to reporters aboard Air Force One that he plans to announce a tariff rate on imported semiconductors within the coming week. Significantly, though, Trump also signaled potential flexibility for certain companies in the sector. According to Reuters, Trump told reporters during the flight that he wanted to uncomplicate the semiconductor industry because the US wants to make its chips and other products in the country. While he declined to specify whether products like smartphones might remain exempt from tariffs, he emphasized the need for adaptability. "You have to show a certain flexibility," Trump said. "Nobody should be so rigid." The president's comments come as his administration intensifies its focus on the semiconductor industry. Earlier in the day, Trump announced a national security trade investigation into semiconductors and the broader electronics supply chain. "We are taking a look at Semiconductors and the WH ... Read full article.