U.S. President Donald Trump on the 3rd (local time) announced that the imposition of semiconductor tariffs is imminent.
According to the New York Times (NYT) and others, President Trump told reporters on board the plane heading to Miami that "the semiconductor (tariffs) will start very soon."
President Trump said, "Pharmaceuticals (tariffs) are a separate category," adding, "They will be announced in the near future and are currently under review."
Following the Trump administration's start of imposing a 25% tariff on foreign automobiles from that day, he announced that semiconductor tariffs will soon be introduced as well, putting South Korea's top two export items to the U.S. under 'bomb tariffs.' The day before, he had announced the introduction of a 10% 'base tariff' (universal tariff) on all countries and a 'reciprocal tariff' that varies by country.
When asked if he had a message for American companies worried about tariffs, President Trump said, "Everything seems to be going well," and added, "Remember, if you build factories or make products in the U.S., there are no tariffs."
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