Lutnick: Trump gov't considering 'targeted,' thoughtful' tariff policy for semiconductors

U.S. Commerce Secretary Howard Lutnick stated on Wednesday that the Trump administration is developing a carefully considered tariff policy targeting semiconductors. He emphasized that companies manufacturing products in the United States would not be subject to duties. During a CNBC interview, Lutnick confirmed the administration's efforts on these tariffs, following Politico's report from the previous week that they were considering new chip tariffs, despite concerns from technology firms that such a move might undermine U.S. ambitions in artificial intelligence.

Lutnick explained that the policy would incentivize U.S. manufacturing by offering tariff relief to companies that build in America, while imposing tariffs on those that do not. He affirmed, "Yeah. It's exactly right," when asked about Politico's report suggesting that the administration supports linking tariff relief to foreign companies' investments in U.S. chip manufacturing.