US President Donald Trump said he will announce new tariffs on imported steel and semiconductor chips in the coming weeks.

He indicated the tariffs would start at lower rates to allow time for domestic manufacturing, then increase sharply after a set period.

In February, Trump raised steel and aluminum tariffs to 25%, and in May he announced those would double to 50%.

Last week, he said he would set a 100% tariff on imported semiconductor chips, with exemptions for companies that expand manufacturing in the US.

It is unclear if the latest measures will further increase tariffs on metals.

🔗 Source: Reuters