US President Donald Trump said that Washington will impose tariffs on steel and semiconductor imports in the next two weeks.
“I will impose tariffs on steel next week and the week after that, and I would say on microchips. Steel and semiconductors“, Trump said while speaking to reporters from the White House press pool during his flight to Anchorage to meet with Russian leader Vladimir Putin.
“We will have a low rate at first. This will give them a chance (foreign companies) to come to the United States and build their manufacturing facilities on American soil. After a certain period of time, the tariff rates will become very high. "If they don't build here, they're going to have to pay very high tariffs," he said.
On April 2, Trump announced tariffs on products from 185 countries and territories. On August 1, he signed an executive order imposing tariffs of 15% to 41% on more than 60 countries and the European Union. They went into effect on August 7.