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President Donald Trump said on Friday that he plans to impose steep <a href="https://www.ntd.com/foreign-semiconductors-to-face-tariff-of-approximately-100-percent-trump_1083418.html">new tariffs</a> on steel and semiconductor chips in the coming weeks, with duties on some imported chips potentially reaching 300 percent if companies do not manufacture them in the United States.

Speaking to reporters aboard Air Force One, Trump reiterated earlier pledges to target foreign steel and chip imports but added a new detail: the possibility of tripling import costs for semiconductors. The move is part of a broader strategy to push manufacturing investment back toward the United States.

“We have hundreds of factories all over the country,” Trump said, adding that companies are expanding domestically to avoid paying high import duties. “If they open here, they don’t have to pay tariffs. If they don’t open here, they have to pay, in some cases, 200 percent to 300 percent. I haven’t even set some of the tariffs yet. I’ll be setting tariffs next week and the week after on steel and on, I would say, chips, semiconductors.”

Trump said the rates would start lower to give companies time to build domestic facilities before escalating sharply. The tariffs would become “very high after a certain period of time,” he said. “And if they don’t build here, they have to pay a very high tariff, which doesn’t work. So they’ll come and build.”

Earlier this month, Trump announced plans for a 100 percent tariff on chip and semiconductor imports, with exceptions for companies investing in U.S. manufacturing. “We'll be putting a tariff of approximately 100 percent on chips and semiconductors,” Trump told reporters. “But if you’re building in the United States of America, there’s no charge, even though you’re building and you’re not producing yet.”

The proposed 300 percent tariff would far exceed any duties previously imposed on the semiconductor sector. Under Trump’s earlier trade actions, the highest recorded tariff rate overall was 145 percent on certain Chinese goods, according to the <a href="https://taxfoundation.org/research/all/federal/trump-tariffs-trade-war/#:~:text=IEEPA%20Border%20Security%20and%20Fentanyl,paused%20for%20another%2090%20days.">Tax Foundation</a>. Steel imports were previously hit with tariffs of up to 25 percent, while duties on semiconductors and related electronics generally stayed below 25 percent.

Trump did not identify which countries or companies might be targeted, nor the exact timeline for implementation. He suggested that formal announcements would come within the next two weeks. Friday’s comments from the president are the first time he has publicly cited a potential 300 percent rate on semiconductors, building on an earlier announcement this month outlining a 100 percent tariff plan on semiconductors and computer microchips.

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