Azernews.Az

Nazrin Abdul

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U.S. President Donald Trump announced on Friday that his administration will roll out new tariffs on steel and semiconductor products beginning next week, as part of a broader effort to boost domestic manufacturing and reduce reliance on foreign technology, Azernews reports.

“I haven’t even set some of the tariffs yet,” Trump told reporters during a press gaggle aboard Air Force One. “I’ll be setting tariffs next week and the week after on steel, and I would say chips and semiconductors.”

According to the president, the new tariff regime will be phased in gradually, starting at a lower rate to encourage foreign companies to invest in American production facilities.

“We’re gonna have a rate that’s lower at the beginning — that gives them a chance to come in and build,” he said.

100% tariffs on foreign chips, 50% on steel imports

Trump’s comments follow earlier statements in which he pledged to impose a 100% tariff on imported computer chips, and double existing tariffs on steel to 50%. The administration argues that such measures are critical to reviving strategic industries, particularly in light of escalating global competition and supply chain vulnerabilities.

While the move is likely to be welcomed by some domestic manufacturers, it may also spark trade tensions with key partners, particularly in Asia and the European Union, where a significant portion of chips and steel imports originate.