Unclear announcement: Trump provides new tariffs on steel and semiconductor

US President Donald Trump plans to set new tariffs on steel and semiconductor imports from next week and increase them over time. However, he did not answer the demand how high the customs sets should be – at the beginning they should still be low. He wanted to give companies the chance to come to the United States and to produce there, Trump said on his flight to his meeting with Kremlin chief Vladimir Putin in Alaska. “And if you do not produce here, you have to pay a very high duty, which will not work. So you will come and produce here,” said Trump.

In the past week, Trump had already promised tariffs of 100 percent for chip imports, but did not mention the start time. If such a step without exceptions is implemented for large providers, the prices for electronics in the USA should increase across the bank – because most chips are produced in Asia. Above all, the high-tech chip systems for the iPhone and other smartphones come almost exclusively from Taiwan from the contract-ready TSMC.

Since last week, the United States has also raised tariffs on most imports from many countries and the European Union. Since then, 15 percent have been hit on EU imports. Trump had previously doubled the import duties on steel and aluminum to 50 percent.