Overview

• On Aug. 15 aboard Air Force One en route to talks with Vladimir Putin in Alaska, President Trump told reporters he will set tariffs on steel and semiconductor imports within the next one to two weeks.
• He said the duties will begin at a lower level to encourage U.S. manufacturing capacity, then rise sharply if companies fail to commit to domestic production.
• The administration is invoking Section 232 of the Trade Expansion Act of 1962 to justify the measures on national-security grounds, a strategy already facing legal challenges and diplomatic pushback.
• Major tech firms such as Samsung, SK hynix and Apple are watching closely as the White House offers exemptions or reduced rates in exchange for U.S. investment.
• Economic analysts and trading partners warn the stepped-tariff plan could disrupt global supply chains, raise consumer costs and provoke retaliatory measures.