Trump says US to levy 100% tariff on imported chips, but some firms exempt

WASHINGTON: President Donald Trump said the US will impose a tariff of about 100 percent on imports of semiconductors but offered up a big exemption — it will not apply to companies that are manufacturing in the US or have committed to do so. The move is part of Trump’s efforts to bring manufacturing back to the US, and his remarks on Wednesday were made in tandem with an announcement that Apple would be investing an additional $100 billion in its home market. For companies like Apple, which have committed to build in the US, “there will be no charge,” he told reporters in the Oval Office.

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