United States President Donald Trump revealed he will unveil the tariff rate for semiconductors "over the next week." At the same time, he said there has to be a "certain flexibility" when it comes to duties on products such as iPhones, adding that product-specific levies will be separately announced in the "not too distant future."
"The tariffs will be in place in the not distant future ... like we did with steel, like with did with automobiles, like we did with aluminum ... we'll be doing that with semiconductors, with the chips, and numerous other things," Trump told reporters on board Air Force One. He made his comments shortly after clarifying that electronics from China will not be exempt from tariffs, stating a 20% duty remains in force for these goods.
Additionally, Trump said the US is collecting "billions" of dollars on existing tariffs on steel, aluminum, and automobiles.