President Donald Trump announced Thursday that his administration will impose tariffs on semiconductor imports from companies that do not move production to the U.S., speaking before a dinner with top tech company CEOs.
“I have discussed it with the people here. Chips and semiconductors – we will be putting tariffs on companies that aren’t coming in. We will be putting a tariff very shortly,” the president said. “We will be putting a very substantial tariff, not that high, but fairly substantial tariff with the understanding that if they come into the country, if they are coming in, building, planning to come in, there will not be a tariff.”
Jeff Mason and Kanishka Singh for Reuters:
Trump has made tariffs a pillar of U.S. foreign policy, using them to exert political pressure and renegotiate trade deals and extract concessions from countries and companies that export goods to the U.S.
“If they are not coming in, there is a tariff,” Trump said in his comments on semiconductors. “Like, I would say (Apple CEO) Tim Cook would be in pretty good shape,” he added, as Cook sat across the table.
iPhone maker Apple recently raised its total domestic investment commitment in the U.S. to $600 billion over the next four years as tech leaders have warmed up to Trump in his second term.
MacDailyNews Note: Apple Silicon manufacturer TSMC in July announced that it would speed up construction of American chip plants by “several quarters.”
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When in history, has forcing the market by “fiat,” and not by innovation/invention resulted in an end to one’s favor?
I wonder if Vlad, Xi and Porky discussed things related?
When in history? One minute ago in the EU.
Apologies….Mis-wrote v critical part of question;
Intended: When in history, has forcing the market by “fiat,” and not by innovation/invention has ended in one’s favor?
Trump is only able to unilaterally declare tariffs because he’s claiming an “emergency.” But our trade deficit is not an emergency,
1. it’s been going on for decades and the economy has boomed compared to most nations.
2. If it’s an emergency, then why the continual “postponements?”
3. The USA buys lots of goods from poor countries, who can’t afford USA products, yes, this is a “deficit” and it will prolly always be a deficit, but it is not an emergency.
4. Brazil ousting their coup-attempting president is not an emergency.
5. Enforcing tariffs other countries because of illegal drugs is a complete non sequitur.
Trump’s MO is simple— in order to rule like a dictator, he simply labels something an “emergency,” whether it’s tariffs or sending in national guard troops or blowing up alleged terrorists.
And yes, tariffs = taxes. Trumps tariffs are taxation without representation.
Putting him in the “dictator” category immediately drops your cred. Tossing that around is about as palatable as racist, authoritarian, white supremicist and other verbal flailings. Wearying.
Per “emergency,” I don’t think is nearly as simply described as “trade deficit.” Despite opposition’s common framing, Trump is no dummy. It’s quite apparent the US is in a precarious position financially, militarily, industrially and…. Trump’s positioning, on almost all actions (tariffs, interest rates, military, crime, investing in US, Greenland/Canada–“teasing,” and more…), link to the sovereign’s strength. If one is an “open border” fan, his actions can point to dictator leanings (add racist & colonial to many of this sort). When viewing sovereignty as an ideal, these actions–though hardly w/o risks & questions–are seen as preserving.
B/c of your nonchalance about “trade deficit,” (1. it’s been going on for decades and the economy has boomed compared to most nations.) I’ll guess you’ve never heard of “Triffin’s Dilemma.” It speaks of a paradox….booming riches followed by dissolution is the natural result–when one is the “Reserve Currency” (US). It’s not a fringe theory. We have crossed the boom-stage. Others buying our debt (required as reserve currency) crested yrs ago. The US’s financial system & effectively the World’s, is materially changing. There’s no going back and Bessent has said as much…the Global Econ is/will/needs to change. Additionally, Triffin’s D notes the host becomes “financialized” and functions little more than the World’s Banker. This is the US’ obvious state…manufacturing has departed and we are now existentially dependent on China for military parts, medicines and parts/pieces for all tech. This is NOT hyperbole.
Baseless word salad responses don’t help your credibility either.
Sorry..too complex? I tried uploaded a PDF with a big letters, but….
Ad hominem’s are quite the signal of deep thinking.