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Trump Vows US to Control 50% of Global Chip Industry by 2029, Threatens Tariffs Over 200%

GateNews
Stocks
On Tuesday, President Trump said the U.S. will have 50% of the global chip industry by the end of his current term in 2029, threatening to impose tariffs exceeding 200% if chip makers fail to reshore semiconductor manufacturing to the U.S. Speaking at a bilateral meeting with the Emir of Qatar, he criticized the Biden administration's CHIPS Act and stated: "We have a system that if they don't build... they have to pay tariffs of upwards of 200%."\n\nTrump highlighted that many chip manufacturing facilities are planned for Arizona and Texas, with these plants expected to begin operations within the next year to year and a half. He noted that the U.S. was previously "the king of chips" but the industry was lost, adding that his administration is building more semiconductor capacity than ever before in U.S. history.
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