Howard Lutnick: Chips Plan To Be Announced In Two Weeks

Commerce Secretary Howard Lutnick says that plans for semiconductors will emerge in two weeks.

Transcript

00:00What about steel, what I've got to do?

00:03On what?

00:04Steel.

00:05Steel is staying the way it is.

00:07The steel and aluminum, et cetera, et cetera.

00:10That's a worldwide thing.

00:12That stays the way it is.

00:15We have chips.

00:16Did you discuss that in this part of the room?

00:18Chips.

00:19Chips is, Howard, you might want to describe the chips, please, if you would.

00:23Well, the expectation is in two weeks' time, we're going to come out with our chips 232.

00:34And that was one of the key reasons that the European Union came to talk to the president

00:41to try to resolve all things at one time.

00:44And, well, I'll let you wait for the two weeks until you get to announce your plan.

00:49But we are going to be bringing chip manufacturing back to the United States of America.

00:55We'll be doing a lot of chips.

00:56A lot of companies are coming in from Taiwan and from other places into the U.S.

01:02And they're doing that in order to avoid tariffs.

01:05And the president really avoided the tariffs in a better way for them, much better way,

01:14much more conclusive, I think probably much more profitable, definitely much more profitable,

01:21and got a lot of benefit from it.

01:23So it was a very interesting negotiation.

01:26It was, I think it's going to be great for both parties.

01:30I really, I think your various countries are very happy about this.

01:34Is there an industry in the U?