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Recent developments suggest the tech industry may not be immune to new import tariffs, according to statements from U.S. Commerce Secretary Howard Lutnick. While some consumer electronics initially received exemptions, semiconductors could face targeted levies, potentially impacting the sector and broader US-China trade relations.
Tech Sector Faces Potential Semiconductor Tariffs
The Trump administration had previously announced exemptions for consumer electronics like laptops and smartphones from tariffs unveiled earlier in the month. This announcement, made on a Friday evening, followed the administration’s decision to delay many planned tariffs while implementing a baseline 10% tariff and an additional 125% tariff on select Chinese goods.
Exemptions Raise Questions About Future Tech Levies
Despite these exemptions, reports indicated that the tech industry could still be affected by future targeted tariffs. Semiconductors were specifically mentioned as an area under increased consideration for these potential levies.
Commerce Secretary Signals Focus on Semiconductors
Commerce Secretary Lutnick clarified this outlook in a Sunday morning interview on ABC’s “This Week.” He stated that while President Trump is exempting certain products from “reciprocal tariffs,” they are being included in forthcoming “semiconductor tariffs,” anticipated within the next one to two months.
Reshoring Chip Manufacturing Through Tariffs
Lutnick elaborated, “All those products are going to come under semiconductors, and they’re going to have a special focus type of tariff to ensure that those products get reshored. We need to have semiconductors, we need to have chips, and we need to have flat panels — we need to have these things made in America.” His comments suggest a strategic intent to utilize tariffs to incentivize domestic semiconductor manufacturing.
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Consumer Price Impact Debated
When questioned about the potential for tariffs to inflate prices for American consumers, Lutnick demurred, stating, “I don’t think so.” He reiterated his emphasis on fostering domestic manufacturing, asserting, “I think the idea is that we can manufacture in America.” However, this vision has faced skepticism, with some critics suggesting the large-scale return of electronics assembly to the US is unrealistic.
President Trump to Address Semiconductor Tariffs
President Trump was directly questioned about semiconductor tariffs over the weekend. He responded that he would provide an answer on Monday, leaving the industry awaiting further clarification on the administration’s policy.