Trump says specific tariff will be placed on semiconductor industry, rate to be announced within week

Group 1 - The U.S. plans to impose specific tariffs on imported semiconductors and chips, with rates to be announced within the week [1] - The objective of the tariffs is to simplify trade in the semiconductor sector and encourage domestic production [2] - In January, the U.S. had a negative trade balance in the semiconductor sector of $322 million, with exports of$521 million and imports of $843 million [4] Group 2 - The U.S. government is not planning to exempt electronics from China from existing tariffs, which remain at 20%, while reciprocal tariffs from China have increased to 145% [6] - The U.S. is considering additional specific tariffs on drugs and pharmaceuticals to promote domestic production and reduce reliance on foreign suppliers [7] - The administration emphasizes the need to manufacture products domestically to avoid being dependent on hostile trading nations like China [8]