LIVE news: Trump says will impose tariffs on semiconductor imports 'very shortly'
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LIVE news updates: President Donald Trump announced that tariffs on semiconductor imports would be imposed “very shortly,” while exempting products from firms such as Apple Inc. that have committed to expanding their investments in the United States.
“I’ve discussed it with the people here, chips and semiconductors, and we’ll be putting tariffs on companies that aren’t coming in,” Trump told reporters during a White House dinner attended by a rare assembly of leading technology executives and founders, including Apple chief Tim Cook. He clarified, “if they’re coming in, building, planning to come in, there will not be a tariff.”
Last month, Trump had said at an event with Cook that he intended to introduce a 100 per cent tariff on semiconductors, while exempting products made by companies shifting their manufacturing operations to the US. Apple has pledged $600 billion towards a domestic manufacturing drive.
Trump will attend Sunday's men's final of the US Open, returning to a tournament he once frequently attended for the first time in a decade. The White House confirmed the visit Thursday night. Trump is expected to make a daytrip to Queens, New York, and return to Washington after the match, which begins at 2 pm No. 1 seed and defending champion Jannik Sinner is playing Felix Auger-Aliassime on Friday. The other semifinal match features Novak Djokovic against Carlos Alcaraz.
For decades as a New York-area real estate mogul and, later, reality TV star, Trump was a fixture at the Grand Slam tournament, often sitting in the suite's balcony during night-session matches. He frequently would be shown on arena's video screens.