Trump announces tariffs, warns of sanctions ahead of key global deadlines
In a high-profile Oval Office meeting with Apple CEO Tim Cook, President Trump unveiled sweeping new tariffs on semiconductors and computer chips.
(NBC)- In a high-profile Oval Office meeting with Apple CEO Tim Cook, President Trump unveiled sweeping new tariffs on semiconductors and computer chips, signaling a sharp turn in U.S. trade policy aimed at boosting domestic manufacturing.
The President touted Apple’s commitment to invest $600 billion in U.S. manufacturing over the next four years, calling it a model for other companies to follow.
“100% tariff on all chips and semiconductors coming into the United States,” Trump said. “But if you’ve made a commitment to build, or if you’re in the process of building, as many are, there is no tariff.”
The administration has yet to release details on when the tariffs will take effect or how companies can qualify for exemptions. Still, the move marks another bold push by the President to bring high-tech production back to American soil. The President also escalated his criticism of India, expressing frustration over the country’s continued oil trade with Russia.
“They’re fueling the war machine,” Trump said. “And if they’re going to do that, then I’m not going to be happy.”
In response, the White House doubled India’s tariff rate from 25% to 50%, just hours before the new rules are set to go online. Administration officials say the move is intended as a “punishment” for India’s oil imports from Russia amid the ongoing war in Ukraine.
Meanwhile, diplomatic efforts continue. U.S. Special Envoy Steve Witkoff met with Russian President Vladimir Putin in Moscow, ahead of a Friday deadline for expanded U.S. sanctions if Russia does not agree to a ceasefire with Ukraine.
President Trump called the meeting “highly productive” on social media, adding, “Great progress was made!” He also hinted at a potential breakthrough in talks between the warring nations.
“That road was long, and continues to be long,” Trump said. “But there’s a good chance that there will be a meeting, very soon.”
According to a White House official, a possible trilateral meeting between Trump, Putin, and Ukrainian President Volodymyr Zelenskyy could happen as early as next week, although no time or location has been confirmed.
