President Trump announced tariffs on semiconductors not manufactured in the U.S.
The U.S. Bureau of Industry and Security (BIS) recently canceled its Validated End-User program and revoked a tariff waiver for the Taiwan Semiconductor Manufacturing Company (TSMC). The large computer parts manufacturer, as well as other similar companies, will have to obtain a special license to export chipmaking tech and equipment to China.
The bureau stated in its release, “No U.S.-owned fab has this privilege – and now, following today’s decision, no foreign-owned fab will have it either.”
President Trump also announced last week that his administration would apply tariffs on semiconductors from companies that do not produce them in the U.S.
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.”
As the Lord Leads, Pray with Us…
- For Under Secretary of Commerce Alan Estevez to receive God’s direction as he oversees the Bureau of Industry and Security.
- For President Trump to seek the Lord’s wisdom as he imposes tariffs to encourage domestic production and employment opportunities.
Sources: UPI News, Reuters, MSN
