President Donald Trump said his administration will impose tariffs on semiconductor imports from firms that do not commit to building or planning manufacturing operations in the United States, speaking ahead of a White House dinner with leading technology executives.
Trump offered no precise timing or rate but characterised the levy as fairly substantial and added that companies investing in US operations would be exempt. He singled out Apple, noting its significant domestic investment plans and suggesting the company would likely qualify for the exemption.
Industry watchers note Apple has pledged around $600 billion in US manufacturing over several years, a commitment that may shield it from the new tariffs. Meanwhile, major pure-play chipmakers such as Taiwan Semiconductor Manufacturing Co., Samsung, and SK Hynix are reportedly in discussions with officials from their respective governments and may also secure exemptions.
The announcement comes amid existing Section 232 investigations into semiconductor imports and equipment, and follows a series of broader tariff actions under Trump’s Liberation Day measures this spring.
Financial markets appear unperturbed for now. The iShares Semiconductor ETF rose modestly ahead of trading, suggesting investor confidence that key players may be excluded from the duties.
Separately, Texas Instruments reported a surge in orders earlier in the year, driven by buyers rushing to receive chips ahead of anticipated import tariffs. The company’s CFO described the demand spike as a temporary pull-forward effect, with normalisation now underway.
