U.S. Commerce Secretary Howard Lutnick hinted at the possibility of imposing tariffs on semiconductor products. His plan aims to encourage global companies to invest in U.S. semiconductor manufacturing by alleviating tariff burdens for those that build factories in the country.
In an interview with CNBC following the G20 Innovation Ministers' meeting in Chapel Hill, North Carolina, on September 2, Lutnick stated that the tariff policy would be "targeted and measured."
He explained, "If you produce in the U.S., you won’t pay tariffs, but if you don’t, you must be prepared to pay the price to access the greatest market in the world."
Lutnick confirmed reports that the tariffs on semiconductors would be 'high-intensity' and linked to investments in U.S. semiconductor manufacturing, saying, "That is exactly right."
He noted that this approach would be similar to the one used by the Trump administration in the pharmaceutical industry, which currently offers tariff reductions to companies that produce innovative drugs in the U.S. and implement Most-Favored-Nation pricing.
The Trump administration began imposing a 25% tariff on certain advanced semiconductors in January, indicating the potential for expanding the scope of tariffs to include a broader range of semiconductor products.
Earlier, Politico reported, citing sources, that the U.S. government is considering significantly expanding the range of products subject to semiconductor tariffs, potentially including laptops, gaming consoles, and data center servers that contain semiconductors.
The report also mentioned that the government is exploring options to set tariff rates and import quotas by country and apply country-specific guidelines to major semiconductor manufacturers.
Lutnick's comments are seen as a strategy to pressure global semiconductor manufacturers to invest in the U.S. He noted that approximately $1.2 trillion in investment commitments have already been made for semiconductor production in the U.S., citing investments from Taiwan's TSMC and U.S.-based Micron as examples of "how the Trump tariff policy is working."
Lutnick also revealed that the Taiwanese government is expected to announce plans for an additional $20 billion to $30 billion investment in the U.S. next week.
* This article has been translated by AI.
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