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Trump to Announce Tariffs on Steel Imports in Coming Weeks
08/15/2025 - U.S. President Donald Trump said today that he will announce tariffs on imports of steel and semiconductor chips within the coming weeks, Reuters reported.
"I'll be setting tariffs next week and the week after on steel and on, I would say, chips," said Trump to reporters on Air Force One.
While rates would begin at a lower rate so companies could build up domestic manufacturing in the U.S., they would later increase.
"I'm going to have a rate that is going to be lower at the beginning - that gives them a chance to come in and build - and very high after a certain period of time," Trump said.
Trump expressed his confidence that companies would choose to take the opportunity to manufacture in the U.S. rather than face high tariffs, reported Reuters.
While in February he raised tariffs on steel and aluminum to 25%, Trump announced in May he would double the rate to 50% to boost domestic manufacturers. He said last week that he would impose a 100% tariff on imports of semiconductors, but companies that committed to building up manufacturing in the U.S. would be exempt, Reuters said.
While rates would begin at a lower rate so companies could build up domestic manufacturing in the U.S., they would later increase.
"I'm going to have a rate that is going to be lower at the beginning - that gives them a chance to come in and build - and very high after a certain period of time," Trump said.
Trump expressed his confidence that companies would choose to take the opportunity to manufacture in the U.S. rather than face high tariffs, reported Reuters.
While in February he raised tariffs on steel and aluminum to 25%, Trump announced in May he would double the rate to 50% to boost domestic manufacturers. He said last week that he would impose a 100% tariff on imports of semiconductors, but companies that committed to building up manufacturing in the U.S. would be exempt, Reuters said.
