US President Donald Trump has indicated that his government is soon going to impose a very big tariff on the import of semiconductors and chips. He made this announcement during a dinner organized at the White House in Washington, in which the leaders of many big tech companies of the world, including Apple CEO Tim Cook, were present.

Apple will get relief.

Trump clearly said that companies like Apple, which are taking steps towards promoting manufacturing and investment in America, will not be burdened by tariffs. Referring to Tim Cook, he said, "Tim Cook will be in a good position, because his company has recently shown commitment to big investment."

Exemption based on investment

Trump clarified that companies that are manufacturing or planning to manufacture in America will be exempted from tariffs. At the same time, import duty will apply to companies that are not American investment.

Last month, Trump had said in a program with Tim Cook that there is a plan to impose 100% tariff on semiconductor imports. However, he had also clarified that companies that shift their manufacturing units to the US will be exempted from this duty. Apple has announced a $600 billion domestic manufacturing plan under this initiative.

Tariffs can reach 200% to 300%
Trump has already indicated that the tariff rate on imports can be much higher than 100%. He had said that this rate can go up to 200% to 300%, so that the US market can be protected from external competition and domestic manufacturing can be promoted.

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