Overview
- Trump said tariffs have brought hundreds of billions of dollars into the Treasury with virtually no inflation and stronger national security.
- He described tariffs as the cornerstone of recent economic gains and claimed they helped cut the federal deficit by 27 percent.
- Trump said a 25 percent tariff on foreign automobiles is in effect and asserted it has coincided with more than $70 billion in new U.S. auto investment.
- The Commerce Department said Taiwanese semiconductor and technology firms will commit at least $250 billion in direct U.S. investment and $250 billion in credit guarantees under the new pact.
- Officials said future semiconductor tariff preferences will favor companies that build manufacturing in the United States, while debates persist over whether tariffs raise consumer prices.