US to release result of probe into chip imports in 2 weeks: Lutnick
Lutnick told reporters after a meeting between Trump and European Commission President Ursula von der Leyen that the investigation was one of the 'key reasons' the European Union sought to negotiate a broader trade agreement that would 'resolve all things at one time.'
Trump said many companies would be investing in semiconductor manufacturing in the US, including some from Taiwan and other places, to avoid getting hit by new tariffs.
3 The Trump administration announced in the spring it was investigating whether extensive reliance on imports of semiconductors and pharmaceuticals was a threat to national security.
REUTERS
He said von der Leyen had avoided the pending chips tariffs 'in a much better way.'
Trump and von der Leyen announced a new framework trade agreement that includes across-the-board 15% tariffs on EU imports entering the US.
Trump said the agreement included autos, which face a higher 25% tariff under a separate sectoral tariff action.
3 European Commission President Ursula von der Leyen and President Trump met on Sunday.
Getty Images
The Trump administration in April said it was investigating whether extensive reliance on foreign imports of pharmaceuticals and semiconductors posed a national security threat.
The probe, being conducted under Section 232 of the Trade Expansion Act of 1962, could lay the groundwork for new tariffs on imports in both sectors.
3 Commerce Secretary Howard Lutnick.
REUTERS
The Trump administration has begun separate investigations under the same law into imports of copper and lumber. Earlier probes completed during Trump's first term formed the basis for 25% tariffs rolled out since his return to the White House in January on steel and aluminum and on the auto industry.
Trump has upended global trade with a series of aggressive levies against trading partners, including a 10% tariff that took effect in April, with that rate set to increase sharply for most larger trading partners on Friday.
The US relies heavily on chips imported from Taiwan, something former President Joe Biden sought to reverse during his term by granting billions of dollars in Chips Act awards to lure chipmakers to expand production in the US.
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The people of Kentucky can't stand him."....VP JD Vance: "I empathize with Americans who are exhausted after 25 years of foreign entanglements in the Middle difference is that back then we had dumb presidents."....Andrew Sullivan: "A president who lies about everything all the time is singularly incapable of being a war president. People have to trust your word in a war. But Trump's word is toilet paper."....John Oliver on ICE agents: "These are criminal gangs,...bounty hunters making money for each body they manage to kidnap. They have quotas. You are their USA is sick."....WH Communications Director Steven Cheung: "The Nobel Peace Prize is illegitimate if President Trump -- the ultimate peace president -- is denied his rightful recognition of bringing harmony across the world."....Rep. MTG: "America is the greatest country in the world and I fight the nasty 'America Last' Democrats in Washington to keep it that way."....Trump on Democrats: "I hate them. 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He has a lifetime of crime to pay for."....Tucker Carlson: "Why are my cities disgusting? I don't even want to go there. It smells like weed and halal food."....CA Gov. Gavin Newsom: "Kids running from tear gas, crying on the phone because their mother was just taken from the fields. Trump calls me 'Newscum' but he's the real scum."....Jonathan V. Last on Trump: "Reinventing ICE as the primary instrument of internal state power. ICE is more or less a national brute squad."...Ruth Ben-Ghiat on Trump: "Authoritarian leader cult is folding to his will."....CA Governor's press office on Stephen Miller: "This fascist cuck in DC continues his assault on democracy and the the Constitution hurt your feelings, Stephen. Cry harder."....Charlie Kirk on Texas flooding: "The death toll likely would not have been as high if it wasn't for DEI."....Dean Blundell on Trump: "An aging, increasingly incoherent, barely upright man."....Maureen Dowd: "Trump, who plays at being king, is not interested in virtue; only in humiliation, conflict, enrichment and revenge."....Tina Brown: "Out of Trump's ass, his ego, and his flawless media intuition, came: Let's bomb the shit out of Fordo."....John Cleese on Trump administration: "This is why dictatorships fail. Dictators always surround themselves with yes-people who are terrified to acquaint the dictator with reality."....Trump on Sen. Rand Paul: "His ideas are actually crazy (losers!). The people of Kentucky can't stand him."....VP JD Vance: "I empathize with Americans who are exhausted after 25 years of foreign entanglements in the Middle difference is that back then we had dumb presidents."....Andrew Sullivan: "A president who lies about everything all the time is singularly incapable of being a war president. People have to trust your word in a war. But Trump's word is toilet paper."....John Oliver on ICE agents: "These are criminal gangs,...bounty hunters making money for each body they manage to kidnap. They have quotas. You are their USA is sick."....WH Communications Director Steven Cheung: "The Nobel Peace Prize is illegitimate if President Trump -- the ultimate peace president -- is denied his rightful recognition of bringing harmony across the world."....Rep. MTG: "America is the greatest country in the world and I fight the nasty 'America Last' Democrats in Washington to keep it that way."....Trump on Democrats: "I hate them. I cannot stand them, because I really believe they hate our country."....Rep. Hakeem Jeffries on House passing Trump's BBB: "One big ugly is a crime scene."....Jonathan Alter: "Might as well tear down the Statue of LIberty and flush Emma Lazarus's poem down the toilet."....Garrison Keillor: "Every morning the news hits us like a baseball bat. How did this crook and clown achieve the White House so he could wage war on science, higher education, the Constitution, regulatory agencies, and the world economy, while redecorating the Oval Office to look like the Golden Nugget in Las Vegas?"....Trump supporter to reporter "We're not stupid. Donald Trump is a genius. That's what the J stands for."....
