Overview

• President Donald Trump announced aboard Air Force One en route to Alaska that he will impose new tariffs on steel and semiconductors in the coming weeks.
• He said the levies will start at a low rate to encourage U.S. production then ramp up sharply, with non-compliant imports potentially facing rates cited between 100% and 200–300%.
• Companies that shift manufacturing operations to the United States will be exempt from the highest duties, prompting technology firms such as Apple to boost domestic investment.
• The move builds on earlier measures including 25% duties on steel and aluminum in February, an increase to 50% in June, and reciprocal 10–50% surcharges applied to trading partners starting August 7.
• Trading partners and businesses are awaiting detailed implementation rules as the announced tariffs serve as leverage in ongoing negotiations and carry the risk of retaliatory responses.