00:00We'll be putting a tariff on approximately 100% on chips and semiconductors, but if you're building in the United States of America, there's no charge.
00:13So 100% tariff on all chips and semiconductors coming into the United States, but if you've made a commitment to build or if you're in the process of building, as many are, there is no tariff.
00:25The U.S. will impose a tariff of about 100% on semiconductor chips imported from countries not producing in America or planning to do so.
00:36President Donald Trump said the new tariff rate would apply to all chips and semiconductors coming into the U.S., but would not apply to companies that had made a commitment to manufacture in the U.S.
00:48It is not clear how many chips will be covered by the tariffs.
00:51Congress created a $52.7 billion U.S. semiconductor manufacturing and research subsidy program in 2022.
01:00The Commerce Department last year, under President Joe Biden, convinced all five leading-edge semiconductor firms to locate chip factories in the U.S. as part of the program.
01:11Last year, the department said the U.S. produced about 12% of semiconductor chips globally, down from 40% in 1990.
